Dubai Retail Giant Majid Al Futtaim Accepts Crypto at 29 Malls and 13 Hotels in Partnership with Binance – Featured Bitcoin News


Leading mall operator Majid Al Futtaim has partnered with Binance to accept crypto at its malls and other properties. “Majid Al Futtaim is one of the most prestigious companies in the Middle East and has millions of customers every year,” said the CEO of Binance.

Majid Al Futtaim Dives into Crypto with Binance

Majid Al Futtaim, a leading operator of shopping malls, hotels, cinemas, hypermarkets, and retail stores in the Middle East, Africa, and Asia, announced its strategic partnership with global cryptocurrency exchange Binance last week. The two companies will cooperate on a number of crypto and blockchain projects.

First, Binance Pay will be integrated to allow millions of customers to pay with cryptocurrencies “at Majid Al Futtaim’s various destinations in accordance with applicable laws and regulations,” the announcement states. Binance Pay currently supports more than 40 cryptocurrencies, according to the Binance website.

Changpeng Zhao (CZ), CEO and co-founder of Binance, tweeted last week:

29 shopping malls, 13 hotels, and four mixed-use communities now accept crypto through Binance Pay. The adoption continues.

According to the company’s investor presentation published in February, Majid Al Futtaim operates in 17 countries.

The group’s properties include 29 malls in five countries in the Middle East and North Africa, including Mall of the Emirates, Mall of Egypt, Mall of Oman and Mall of Saudi. In 2021, its malls had 175 million visitors.

The company also operates 423 Carrefour stores in 16 Middle Eastern countries and has exclusive franchise rights in more than 30 countries in the Middle East, North Africa and the Commonwealth of Independent States (CIS) regions.

In addition, the group also operates 13 hotels (11 in the United Arab Emirates and two in Bahrain) and 607 movie theaters.

“Majid Al Futtaim is one of the most prestigious companies in the Middle East and has millions of clients every year,” Zhao continued. “The integration of Web3 technologies will give their customers access to innovative new ways to interact with their brands and provide new ways to pay.”

Other projects the two companies will collaborate on include listing non-fungible tokens (NFTs) on the Binance marketplace and creating a digital wallet infrastructure to store cryptocurrencies from multiple platforms.

What do you think about the partnership between Binance and Majid Al Futtaim? Let us know in the comments section.

kevin helms

Kevin, an Austrian economics student, found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in the security of Bitcoin, open source systems, network effects, and the intersection between economics and cryptography.

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