Majid Al Futtaim partners with Binance to accept cryptocurrencies
The Dubai's Retail Giant to offer crypto payments with Binance Pay in 29 shopping malls and 13 hotels.
Majid Al Futtaim – the leading shopping mall, communities, retail and leisure operator across the Middle East, Africa and Asia – announced the signing of a strategic partnership with blockchain ecosystem and cryptocurrency infrastructure provider Binance.
The agreement will see Binance and Majid Al Futtaim cooperate on a number of blockchain projects, including listings of NFTs on Binance’s marketplace, the creation of a digital wallet infrastructure to hold virtual assets from multiple platforms, and the integration of Binance Pay - allowing customers to purchase with virtual assets at Majid Al Futtaim’s various destinations in line with appropriate laws and regulations. Majid Al Futtaim owns and operates 29 shopping malls, 13 hotels and four mixed-use communities, with further developments underway in the region.
Changpeng Zhao, CEO and co-founder of Binance, said “integrating Web3 technologies will give its customers access to innovative new ways to engage with its brands and provide new ways to pay. 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”.