Crypto Adoption in Dubai: From Groceries to Luxury Cars

• Day to Day, one of Dubai’s most popular and affordable grocery chains, has announced that it started accepting crypto payments.
• Cointelegraph visited a luxury car club in Dubai that is utilizing NFTs and other Web3 technologies in their business.
• There is a growing trend of businesses adopting crypto technology in Dubai.

Crypto Adoption in Dubai

Dubai is becoming increasingly welcoming to the crypto space, providing much-needed regulatory clarity to help the industry thrive. Non-crypto businesses are beginning to adopt new technologies such as cryptocurrencies, nonfungible tokens (NFTs) and even the metaverse into their operations.

Groceries with Cryptocurrencies

Day to Day, one of Dubai’s most popular and affordable grocery chains, recently announced that it started accepting crypto payments for online orders. Cointelegraph visited an Al Quoz branch of the store but was informed by staff that in-store crypto purchases were unavailable and directed them to use the online store instead. The online store accepts Bitcoin (BTC), Ether (ETH), Tether (USDT) and various other coins as payment methods.

Luxury Cars & NFTs

A luxury project called Elchai Group is bringing luxury cars closer to the decentralized community through NFTs. Maria Xenofontos from Elchai explained how they have created digital collectibles with each car being represented by its own unique NFT: “We wanted people to be able to purchase these really special cards with these really rare cars on them.” These cards can be bought using cryptocurrencies such as Ethereum or Bitcoin or through traditional means like bank transfers or credit cards.

Growing Trend of Crypto Adoption

There is a growing trend of businesses adopting cryptocurrency technology in Dubai as more companies recognize its potential benefits. Examples include local stores offering discounts for those who pay using cryptocurrencies and even gold shops allowing customers to buy gold using digital currencies like Bitcoin or Ethereum. These examples demonstrate how embracing cryptocurrency technology can help increase sales for businesses while also increasing convenience for customers.

Conclusion

The adoption of cryptocurrency technology has been steadily increasing in Dubai due to its regulatory clarity which makes it an attractive place for companies wanting to explore new technologies such as cryptocurrencies, nonfungible tokens (NFTs) and even the metaverse. Businesses like Day To Day hypermarket are already making progress towards this adoption by allowing customers to use crypto payments for online orders while projects like Elchai Group are taking things further by creating digital collectibles representing luxury cars with each car being represented by its own unique NFT which can be bought using both traditional currencies or digital ones such as BTC or ETH