Dubai Finance (DOF) has signed a Memorandum of Understanding (MoU) with Crypto.com, a globally recognised cryptocurrency trading platform. This partnership aims to enable the payment of government service fees using cryptocurrencies—marking a significant step in advancing digital finance on a global scale, according to a WAM report.

Signing of the Memorandum of Understanding

The MoU was signed in the presence of Abdulla Mohammed Al Basti, Secretary-General of The Executive Council of Dubai, and Abdulrahman Saleh Al Saleh, Director-General of DOF.

Read-Abu Dhabi’s MGX makes $2bn crypto investment in Binance

The agreement was formalised by Ahmad Ali Meftah, Executive Director of the Central Accounts Sector at DOF, and Mohammed Al Hakim, President of Crypto.com UAE. Crypto.com is licensed by Dubai’s Virtual Assets Regulatory Authority (VARA).

The signing took place on the sidelines of DOF and Crypto.com’s participation in the Dubai FinTech Summit, which opened today at the Dubai International Financial Centre. The agreement represents a key milestone in Dubai’s digital finance journey.

Supporting the Dubai Cashless Strategy

The partnership supports the implementation of the Dubai Cashless Strategy by enabling secure, efficient, and inclusive financial transactions through cryptocurrencies. It paves the way for Dubai’s transition to a fully digital, cashless society, empowering the Government of Dubai to introduce a new digital payment channel across official platforms.

This initiative will enable seamless and secure payments for government services using stable cryptocurrencies, further strengthening Dubai’s position as a global hub for financial innovation.

Abdulla Mohammed Al Basti stated that adopting secure cryptocurrency solutions within government payment systems reflects a proactive approach to addressing future needs and responding to global economic shifts.

“Dubai continues to advance through coordinated efforts across government entities and key sectors to meet and exceed the expectations of individuals, businesses, and the wider community. As a global leader in digital transformation, the emirate is further solidifying its status by deploying secure financial technology solutions that support its cashless strategy, streamline government transactions, and foster innovation in financial services,” Al Basti added.

Strategic financial innovation

Abdulrahman Saleh Al Saleh emphasised DOF’s commitment to driving the Cashless Strategy and supporting Dubai’s digital financial future.

“The MoU with Crypto.com is pivotal in accelerating the strategy’s objectives—aligning with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to enhance Dubai’s global standing in digital payments. We will continue collaborating with government entities and leading financial service providers to develop innovative solutions that support the digital economy,” he said.

Dubai’s vision for a cashless society

Eric Anziani, President and COO of Crypto.com, praised the Dubai Government’s vision:

“We are honoured to support Dubai’s Department of Finance in implementing the first comprehensive, government-wide digitisation of payments. Dubai’s leadership continues to set a global benchmark for economic innovation through initiatives like these.”

Ahmad Ali Meftah reaffirmed DOF’s commitment to adopting cutting-edge financial technologies to realise Dubai’s ambition of becoming a global digital payments hub.

Driving economic transformation

“Public-private collaboration is key to this transformation. We are actively building a regulatory framework that balances innovation with the highest standards of security and efficiency. This boosts public trust in government services and unlocks new avenues for economic growth,” Meftah noted.

Mohammed Al Hakim, President of Crypto.com UAE, added: “This partnership represents a significant leap forward for digital finance, integrating cryptocurrency into government payment systems. As part of the D33 agenda, we’re honoured to support Dubai’s efforts to transform its economic model and lead the way in sustainable digital diversification.”

Amna Mohammed Lootah, Director of Digital Payment Systems Regulation, said: “The Dubai Cashless Strategy targets conducting over 90 per cent of all financial transactions through cashless methods by 2026. This agreement with a globally renowned cryptocurrency platform is groundbreaking—it allows government service users to pay fees via digital currencies, an unprecedented step in the global financial landscape.”

Economic impact of the cashless strategy

The Dubai Cashless Strategy is expected to contribute at least Dh8bn annually to the local economy. This will be driven by the expansion of innovative financial services and the growth of Dubai’s fintech sector.

Once technical arrangements are completed, individual and business users will be able to pay government service fees via Crypto.com’s digital wallets. Payments will be converted into Emirati dirhams and transferred to Dubai Finance accounts, ensuring a streamlined, secure, and innovative payment process.

Saudi Arabia’s Public Investment Fund (PIF) has launched HUMAIN, a new wholly owned company that will operate and invest across the artificial intelligence (AI) value chain as part of the kingdom’s ambitious push to become a global hub for AI and digital innovation.

The announcement was made by Crown Prince Mohammed bin Salman, who also serves as Prime Minister and Chairman of the PIF Board of Directors. HUMAIN will function as a unified operating company, offering a wide range of AI services, products, and tools, including next-generation data centres, AI infrastructure and cloud solutions, as well as advanced AI models.

According to a PIF statement, HUMAIN will develop one of the world’s most powerful multimodal Arabic large language models (LLMs) and provide localised, regional, and global AI capabilities.

The company aims to enhance human potential and unlock new opportunities across the digital economy.

HUMAIN to streamline data centre initiatives

“The launch of HUMAIN marks a major milestone in the kingdom’s AI strategy,” the statement said. “The company will streamline national data centre initiatives, procure AI hardware, and accelerate the adoption of emerging technologies across strategic sectors including energy, healthcare, manufacturing and financial services.”

The initiative supports PIF’s broader strategy to diversify Saudi Arabia’s economy and build a globally competitive digital ecosystem. The Global AI Index 2024 recently ranked Saudi Arabia as the world’s leader in terms of government AI strategy.

Saudi Arabia’s geographic location — at the crossroads of three continents — combined with strong economic growth prospects and a tech-savvy youth population, positions the kingdom as a natural hub for large-scale data processing and AI development, PIF said.

PIF and its portfolio companies have already been investing in building AI infrastructure and forming international partnerships in the field. HUMAIN will further these efforts by fostering local innovation, enabling the creation of proprietary technology and intellectual property, and attracting top talent from around the world.

The company is expected to play a central role in helping Saudi Arabia achieve its national AI aspirations and establish itself as a global AI powerhouse.

Former Philippine President Rodrigo Duterte has won the mayoral race in Davao City during the country’s midterm elections, showing his lasting influence in his hometown—even while being held by the International Criminal Court (ICC).

Despite being detained on charges of crimes against humanity for his deadly war on drugs, the 80-year-old Duterte was expected to win by a wide margin. With 80 per cent of votes counted, unofficial results showed him leading the race with eight times more votes than his closest rival, a CNN report said.

Duterte, known for his tough stance on crime and nicknamed “Duterte Harry” and “The Punisher,” remains popular in the southern city where he built his political career.

Supporters celebrated his victory online, flooding his old Facebook account with congratulations. Some even called for his return home.

“Congratulations, Tatay D! Let’s bring him home,” one comment read, using a term of endearment meaning “father.”

Duterte was arrested in March and taken to The Hague. He may become the first former Asian head of state to face trial at the ICC. His supporters have called the arrest a “kidnapping” by a foreign court.

Duterte has defended his controversial drug crackdown. His legal team argues the arrest was illegal, while the ICC says it still has authority over alleged crimes committed before the Philippines left the court in 2019.

Dubai’s Roads and Transport Authority (RTA) has invited companies, including small and medium enterprises (SMEs) across the UAE, to participate in 116 tenders and auctions available until the end of 2025, in line with the emirate’s Public-Private Partnership Strategy 2024–2026.

The tenders span multiple sectors including services, consultancy, infrastructure, insurance, outsourcing, operations and maintenance, information technology, and investment, as part of RTA’s broader push to enhance collaboration with the private sector and develop innovative services and solutions.

The initiative also supports the objectives of RTA’s Strategic Plan 2025–2030, which prioritises improved operational efficiency and the expansion of strategic and investment projects that strengthen Dubai’s economy and boost the participation of national companies in the infrastructure and services space.

“RTA is firmly committed to strengthening partnerships with the private sector and creating commercial opportunities for both local and international companies,” said Abdulla Yousef Al Ali, CEO of the Corporate Administrative Support Services Sector at RTA. “We actively support Dubai’s business community through a range of incentive-driven initiatives, including recognition programmes that honour major companies demonstrating strong collaboration with SMEs.”

How companies can apply for the RTA tenders

Interested companies must meet specific qualification criteria accessible through RTA’s Electronic Prequalification System, available via the authority’s website.

The digital process is designed to ensure the attraction of top-tier firms, enable efficient project delivery, support national talent development, and contribute to economic growth.

RTA also offers a free electronic prequalification system through the same platform. Companies can register by creating a user account and uploading the necessary documents under the ‘Supplier and Investor Management System’ section of the website

A series of major road closures and heightened security measures have come into effect across Riyadh ahead of US President Donald Trump’s arrival in the Kingdom today.

The measures are part of preparations for a three-day Gulf visit by Trump, who is expected to attend a Saudi-US investment forum and a summit of Gulf leaders in the capital.

According to What’s On Saudi Arabia, the following areas will be affected by temporary closures or restricted access:

• King Salman Road and surrounding areas – partial or full closures

• Roads near the King Abdulaziz International Conference Centre – heavy monitoring and possible restricted access

• West Riyadh, including the Diplomatic Quarter (DQ), major highways, and Diriyah – partial closures at entry and exit points

• At-Turaif in Diriyah – completely closed until Thursday, 15 May

• British International School Riyadh (DQ campus) – closed on Tuesday, 13 May, and Wednesday, 14 May

Motorists and residents have been advised to avoid these areas, particularly around the Diplomatic Quarter and central Riyadh, owing to expected disruptions and security convoys.

Trump’s itinerary

The visit marks Trump’s first official foreign trip since returning to the White House in January. He is set to attend a high-level investment forum on Tuesday in Riyadh, alongside BlackRock CEO Larry Fink, Palantir’s Alex Karp, and senior leaders from Citigroup, IBM, Qualcomm, Alphabet, and others.

Elon Musk is also reportedly part of the delegation.

Read more: Trump jets into Saudi, UAE and Qatar with trillion-dollar investment ambitions

On Wednesday, he will participate in a summit of Gulf leaders before flying to Qatar and concluding the visit in the UAE on Thursday, 15 May.