Binance and Virtuzone partner to enable crypto payments in UAE

Virtuzone, the UAE’s main provider of corporate and business formation services, and Binance partnered to enable crypto payments via Binance Pay in the UAE. 

With this, Virtuzone becomes the first company in the country to accept crypto payments via Binance Pay for business setup, Coin Journal learned from a press release.

Reducing barriers to entrepreneurship

Virtuzone aims to minimize barriers to entrepreneurship by making it possible to pay for business setup processes using cryptocurrency and create more opportunities for companies to tap into the country’s thriving startup community at the same time. 

The leading service provider also aims to advance the use of blockchain tech and cryptocurrencies in the UAE while playing a key role in the Web 3.0 movement in the country. 

Binance Pay eliminates transaction fees and delays 

Binance Pay enables borderless, contactless, and secure crypto payments and transfers. 

It allows instantaneous money transfers all over the world, supports a number of cryptocurrencies, and enables user-to-user transfers, doing away with the delays and fees that come with transactions handled by go-betweens.

Before Virtuzone, Majid Al Futtaim and JA Resorts and Hotels integrated Binance Pay into their systems. 

Virtuzone CEO George Hojeige commented: 

Our partnership with Binance is aimed at generating improved synergy between the crypto and business setup industries, with the main goal of creating a tech-centered, crypto-friendly business environment to make it easier to found companies specializing in decentralized finance (DeFi), NFT development, blockchain technologies, and more.

Nadeem Ladki, Business Development and Strategic Partnerships Executive Director at Binance stated:

The user-friendliness of Binance Pay, which can be used anywhere in the world, and top-grade technology and security will be quite appealing to the global and local startup community looking to build their businesses out of the UAE.

Virtuzone Chairman and Cofounder Neil Petch added: 

The partnership with Binance is a sign of our commitment to continue to pursue novel solutions that will have a positive effect on the startup community in the UAE while improving the potential and opportunities for Virtuzone and its customers. Cooperating with a renowned Web 3.0 technology leader like Binance puts us at the fore of digital transformation across the UAE and the region.