A government-owned entity in Dubai has started accepting bitcoin, ether and tether as payment for its services, according to local media reports.
Kiklabb is a free trade zone that helps companies set up shop in Dubai, a wealthy city and emirate in the United Arab Emirates (UAE). Kiklabb issues trade and other licenses as well as processes visas.
The entity also leases office space to its customers on-board the Queen Elizabeth 2 cruise liner anchored at Port Rashid in Dubai. Payments for these and other services can now be made in bitcoin (BTC), the Gulf News reported on Feb. 16.
Tasawar Ulhaq, chief executive officer of Kiklabb, said the decision was made in response to a “growing interest in cryptocurrency with several customers in blockchain and fintech (financial technology) sectors.”
He noted that crypto-based payments allowed for more accessibility for global entrepreneurs looking to start a business in the UAE. “It really was just…