Shiba Inu's rival Dogecoin (DOGE), Bitcoin (BTC), and Ethereum (ETH) can now be accepted at nearly 30 shopping malls, 13 hotels, and four mixed-use communities in the United Arab Emirates.
The crypto offering is a partnership between retail conglomerate Majid Al Futtaim and Binance, a blockchain ecosystem and cryptocurrency infrastructure provider.
Majid Al Futtaim, a Dubai-based shopping mall and retail behemoth, has partnered with Binance to accept Dogecoin and other major cryptocurrencies including Bitcoin and Ethereum as form of payment.
According to Gulf News, the agreement will allow MAF to integrate Binance Pay into its operations, allowing customers to make purchases at Majid Al Futtaim's many locations using the abovementioned virtual currencies.
Aside from that, the retail giant aims to work with Binance on a variety of blockchain projects, including the listing of NFTs on Binance's exchange and the creation of a digital wallet infrastructure to store virtual assets from several platforms.
Majid Al Futtaim CEO Alain Bejjani commented on the event:
"Today's exponential rate of technological advancement is only matched by consumers' voracious hunger for great customer experiences in the physical and digital worlds."
Binance's CEO and co-founder, Changpeng Zhao, stated that by using Web3 technology, it will provide its customers with inventive new ways to engage with its brands as well as new payment options.
"We will see the new use-cases that come to characterize the next digital era emerge through partnerships like these, and Majid Al Futtaim is positioned to become a pathfinder in bridging the gap between physical and Web3 experiences."
Binance Pay is a one-tap way to send cryptocurrency to friends and family. The payment platform provides a quick and secure way to send cryptocurrency to friends and family.
Binance Pay is a zero-fee, secure user-to-user payment channel available on the Binance App that enables users and merchants to pay, send, and receive crypto payments from anywhere in the world.
With the new Pay feature, you may send cryptocurrency to anyone, even if they don't utilize Binance Pay. Users can send cryptocurrency rapidly from their phones using the platform.
Majid Al Futtaim is an Emirati billionaire businessman who founded a shopping mall and retail organization in the United Arab Emirates in 1992.
Since then, the company has expanded to employ more than 43,000 personnel in 15 different countries.
The Mall of the Emirates, Mall of Egypt, City Centre Malls, My City Centre, and four community malls in a joint venture with the Sharjah government comprise the retail mall portfolio.
