From partners to payments for cryptocurrency to maintain its momentum, it must deliver on its promise of utility. The days of speculative hype are fading and people are starting to focus on real-world applications that can increase transparency, reduce costs and increase efficiency. Cryptocurrency adoption is also taking root in the middle east, where partnerships are more than just localized efforts.
They are a signal of cryptocurrency’s global ambitions. The partnership new zealand telegram data with dubai islamic bank in the united arab emirates was announced on monday. The partnership follows another project in the region, with the company earlier receiving permission to launch a mastercard-powered card in bahrain. There are eventual plans to expand credit card services to other gulf countries, including kuwait, oman, qatar, saudi arabia and the united arab emirates.
The role of stablecoins as a bridge between traditional finance and digital currencies has become even more apparent. Just last month, it added two new stablecoins to its digital payments platform, and this year holiday moviegoers can use stablecoins to purchase tickets and concessions at theaters across the united states.
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