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Cryptocurrency will start being accepted as payment at gas stations in the UAE.
The project is called Landmark and involves the installation of Crypto.com crypto terminals at Emarat gas stations. Project participants reported that Emarat customers will be able to pay for fuel directly through the Crypto.com app by scanning a QR code and selecting their preferred cryptocurrency.
In the future, subject to the approval of the payment initiative by the regulatory authorities of the UAE, the cryptocurrency settlement system will be expanded to the entire Emarat network, which has more than 155 stations across the country.
As part of the Landmark project, the teams from Crypto.com and Emarat plan to open a branded service station under the Crypto.com brand, where clients of the companies will be able to take advantage of "exclusive offers and a joint promotional program to enhance the customer experience."
Earlier, the U.S. Securities and Exchange Commission (SEC) officially closed the investigation into Crypto.com exchange. The regulator does not intend to take any enforcement actions against the exchange.