The UAE based retail giant Majid Al Futtaim (MAF) has partnered up with blockchain ecosystem and crypto provider Binance to provide crypto payment options to millions of its customers.
Through this partnership Binance and MAF will work on a number of blockchain projects, which include listings of NFTs on the marketplace of Binance. Additionally, the creation of a digital wallet structure to store virtual assets across various platforms will also be included.
Lastly, the integration of Binance Pay will allow customers to buy with virtual assets at Majid Al Futtaim’s multiple destinations.
Majid Al Futtaim has 29 shopping malls, 13 hotels as well as four mixed-use communities across 17 countries with more developments coming in the region. MAF’s malls had 175 million visitors in 2021.
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“The exponential rate of technology development today is matched only by consumers’ voracious appetite for exceptional customer experiences in both the physical and digital world,” the CEO at Majid Al Futtaim, Alain Bejjani.
The CEO and co-founder of Binance, Changpeng Zhao stated that “integrating Web3 technologies will give its customers access to innovative new ways to engage with its brands and provide new ways to pay”.
Binance Pay supports over 40 cryptocurrencies currently, as per Binance’s website.
“Through partnerships like these, we will see the innovative use-cases that come to define the next digital era emerge, and Majid Al Futtaim is positioned to become a trailblazer in bridging the gap between physical and Web3 experiences,” Zhao added.
UAE has been taking massive steps to adopt crypto. Many shops, hotels and even real estate companies have started accepting crypto as a payment method. Just recently it was announced that UAE’s Emirates Airline will embrace Bitcoin as a payment service soon.
