UAE Mall Majid Al Futtaim Tie-up with Binance Pay

  • Binance pay is a cashless global and secure cryptocurrency payment platform.
  • Majid Al Futtaim operates in 13 countries.

Majid Al Futtaim, a Dubai-based shopping mall and retail giant has partnered with Binance, the largest cryptocurrency exchange in terms of the daily trading volume. This collaboration will allow MAF to use Web3 technologies and benefit millions of customers.

Both companies collaborated on a multitude of blockchain projects and the integration of Binance Pay will allow customers to pay with crypto assets at Majid Al Futtaim’s various locations. Also, the projects include the listing of NFTs on Binance’s exchange and the creation of a digital wallet infrastructure to hold crypto assets from multiple platforms.

Majid Al Futtaim CEO Alain Bejjani said that

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.

Also, the CEO and co-founder of Binance Changpeng Zhao, said

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.

This collaboration will be a future step for crypto adoption in the Retail industry. Also, last week Binance announced the Know-Your-Customer (KYC) rules and sanctions screening, which will be used to identify cryptocurrency transactions that are illegal.

A journalism graduate who is passionate about writing loves to dance and travel currently starts exploring blockchain technology.