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UAE’s Virtuzone to accept cryptocurrency payments via Binance Pay

Virtuzone Binance

UAE-based provider of business formation and corporate services will be accepting cryptocurrency payments via payment technology Binance Pay, it announced on August 29.

Virtuzone has partnered with blockchain ecosystem and cryptocurrency infrastructure provider – Binance to accept cryptocurrency payments for business setup through Binance Pay, it said in a statement.

Virtuzone said that it intends to help facilitate entrepreneurship by enabling cryptocurrency payments for company setup, and create additional opportunities for global businesses to tap into the country’s startup community. Via this partnership, it also seeks to advance the use of cryptocurrencies and blockchain technologies in the country.

Virtuzone joins companies such as JA Resorts and Hotels and Majid Al Futtaim who have integrated Binance Pay in their systems.

Meanwhile, Binance Pay – the proprietary cryptocurrency payment technology facilitates contactless and secure cryptocurrency payments and transfers.

Neil Petch, chairman and co-founder of Virtuzone, said: “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, whilst expanding the future possibilities and opportunities for Virtuzone and its clients.”

“Our alliance with Binance is geared at generating more synergies between the business setup and crypto industries, with an overarching goal of building a crypto-friendly and tech-centric business environment where we can ease the way for the establishment of companies specialising in decentralised finance (DeFi), blockchain technologies, non-fungible token (NFT) development and trading,” adds George Hojeige, CEO of Virtuzone.

Towards the end of last year, Virtuzone launched the region’s first dedicated e-commerce startup accelerator programme.

Read: Virtuzone launches MENA region’s first e-commerce accelerator programme

Read: The Rainmakers: The UAE’s startup stars

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