Virtuzone has just announced its latest partnership with Binance, the blockchain ecosystem, and crypto infrastructure provider, will make them the first company of their kind in the UAE to accept digital currency payments. The company will soon begin using the Binance Pay platform to forge ahead with its ambitious plans, helping to fuel further growth of the nation’s already buzzing startup scene.

“The partnership we have forged with Binance reflects our commitment to continue our pursuit of innovative solutions that will positively impact the UAE startup community while expanding the future possibilities and opportunities for Virtuzone and its clients. Collaborating with a renowned Web 3.0 technology leader like Binance puts us at the forefront of digital transformation and the Fourth Industrial Revolution across the UAE and the region,” says Neil Petch, Chairman, and Co-founder of Virtuzone.

Although Dubai is already making a name for itself as a crypto-friendly startup spot, the Virtuzone and Binance partnership aims to turn the entire UAE into a hub for crypto projects and Web 3.0 development. More and more businesses are relocating to the region each year due to its crypto policies and ease of doing business, and the recent pairing goes hand-in-hand with this trend.

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Binance Pay allows borderless, contactless, and secure crypto payments and transfers. The platform will enable companies to accept crypto or regular payments without intermediaries. The list of leading UAE businesses that have integrated Binance into their payment portfolios is currently proliferating, including the likes of JA Resorts & Hotels and Majid Al Futtaim — which now means consumers can use Binance Pay in 29 retail malls and 13 hotels.

The Virtual Asset Regulatory Authority (VARA) of the UAE recently rolled out new regulatory guidelines on virtual asset promotions, marketing, and advertising. Binance intends to create a legal framework that maintains tight security without stifling innovation or economic development.