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Emirates plans to offer payment option in Bitcoin

Emirates plans to offer payment option in Bitcoin
Written by Arindam
Emirates plans to offer payment option in Bitcoin

Emirates airline of United Arab Emirates (UAE) plans to add payment option in bitcoin. Along with this, it will also launch a non-fungible token (NFT) trading platform. Earlier the airline had shown interest in launching digital collectibles. Along with this, it was also announced to enhance the Metaverse experience for the passengers.

Emirates Chief Operating Officer Adel Ahmed Al Redha gave details of the bitcoin-related plans at an event organized at the International Travel Show, Arabian Travel Market. As reported by Arab News, Al Redha also hinted at hiring employees to help build applications that monitor customer needs. However, he did not specify when the payment service could be started in bitcoin. He said of the Metaverse, “With the Metaverse, the whole process can be transformed, whether it is training or sales on the website or the entire experience. It is important to make it interactive.” Last month Emirates announced the NFT and Metaverse projects. These can be launched in the coming months.

A Dubai school has started accepting tuition fees in Bitcoin and Ether. It will be the first school in the Middle East to do so. Citizens School has taken this decision after the recent implementation of the law regulating virtual assets in Dubai. For this, a tie-up has been made with a digital currency platform that processes cryptocurrency payments. UAE Prime Minister Sheikh Mohammed bin Rashid Al Maktoum made it law in March by signing a bill for virtual assets. Along with this, the Virtual Asset Regulatory Authority (VARA) was also created to control the crypto segment.

Last month, crypto payments app Strike partnered with e-commerce company Shopify and alternative payments provider Blackhawk Network to help merchants receive payments in bitcoin through the Lightning Network. This was announced by Strike CEO Jack Mallers during the Bitcoin conference in Miami, USA. Lightning Network is a layer-2 payment and communication protocol built on the bitcoin blockchain. This allows transactions to be processed off-chain. To simplify the payment process, Strike has partnered with Point-of-Sale (PoS) supplier NCR.

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Arindam

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