DigiByte Foundation, the parent company of DigiByte token (DGB), has entered a joint venture with UAE’s ZelaaPay (ZPAE) to increase DGB’s adoption in the region.
On July 5, DigiByte Foundation made the announcement via its official Twitter account. The announcement reads:
“We are happy to announce that the DigiByte Foundation has entered into a partnership with our Golden Sponsor ZelaaPay to spread DGB awareness and adoption in [the] United Arab Emirates by placing crypto POS around [the] UAE through enterprise merchant deals and by debit (Visa) cards.”
Zelaapay is a major cryptocurrency backed by the UAE government and numerous ruling royal families across the Arab Emirates. Given UAE’s position as a global commerce hub, ZPAE was created to facilitate fiat-to-crypto transactions efficiently and safely. The joint venture is meant to encourage merchants to adopt digital assets as a safer means of transactions, especially in high-volume trades.
According to ZelaaPay, the UAE conducts most of its business the traditional way of cash and bank transfers. With a population of 54 million and a cumulative net worth of $3 trillion, ZelaaPay aims to change “the way Emiratis do transactions and manage their wealth.”
As usual, the UAE is leading the way by bringing a change in traditional payment systems among the Gulf Cooperation Council countries.
Image Credits: Pixabay
