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

Majid Al Futtaim is a major shopping mall operator and has now partnered up with Binance to take cryptocurrencies into its stores. “Majid Al Futtaim is one of the most prestigious businesses in the Middle East and has millions of customers every year,” said the CEO of Binance.

Majid al Futtaim Diving Into Crytpo With binance

Majid Al Futtaim was a prominent operator of malls, shopping centres, hotels and cinemas across the Middle East, Africa and Asia. It announced last week its partnership with Binance, a global cryptocurrency exchange. Both companies will work together on various crypto and blockchain-related projects.

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

Changpeng Zhao, CEO and cofounder of Binance (CZ), tweeted this week.

Binance Pay is now accepted at 29 malls and 13 hotels. Continued adoption

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

The group’s properties include 29 shopping malls in five countries across the Middle East and North Africa, including Mall of the Emirates, Mall of Egypt, Mall of Oman, and Mall of Saudi. Its malls were visited by 175 million people in 2021.

It also has 423 Carrefour shops in 16 Middle East countries and exclusive franchise rights to over 30 other countries in the Middle East, North Africa and Commonwealth of Independent States regions.

The group operates 13 hotels in UAE, two in Bahrain and 607 cinemas.

“Majid Al Futtaim is one of the most prestigious businesses in the Middle East and has millions of customers every year,” Zhao continued. “Integrating Web3 technologies will give its customers access to innovative new ways to engage with its brands and provide new ways to pay.”

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

How do you feel about Binance’s partnership with Majid Al Futtaim Please leave your comments below.

Kevin Helms

Kevin, a student of Austrian Economics and evangelist since 2011, discovered Bitcoin. His main interests are in Bitcoin security, open source systems, network effects, cryptography, and intersections between economics, cryptography, and Cryptography.