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

Leading shopping center operator Majid Al Futtaim has partnered with Binance to simply accept cryptocurrencies at its malls and different properties. “Majid Al Futtaim is without doubt one of the most prestigious companies within the Middle East and has thousands and thousands of shoppers yearly,” mentioned the CEO of Binance.

Majid Al Futtaim Dives Into Crytpo With Binance

Majid Al Futtaim, a number one operator of purchasing malls, lodges, cinemas, hypermarkets, and retail shops within the Middle East, Africa, and Asia, introduced its strategic partnership with international crypto change Binance final week. The two corporations will cooperate on quite a few crypto and blockchain tasks.

Firstly, Binance Pay can be built-in to permit thousands and thousands of shoppers to pay with cryptocurrencies “at Majid Al Futtaim’s varied locations consistent with applicable legal guidelines and laws,” the announcement notes. Binance Pay at the moment helps greater than 40 cryptocurrencies, in response to Binance’s web site.

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

29 purchasing malls, 13 lodges, and 4 mixed-use communities now accepts crypto by Binance Pay. Adoption continues.

According to the corporate’s investor presentation printed in February, Majid Al Futtaim operates in 17 international locations.

The group’s properties embody 29 purchasing malls in 5 international locations throughout the Middle East and North Africa, together with Mall of the Emirates, Mall of Egypt, Mall of Oman, and Mall of Saudi. In 2021, its malls had 175 million guests.

The firm additionally operates 423 Carrefour shops in 16 international locations throughout the Middle East and has unique franchise rights in over 30 international locations throughout the Middle East, North Africa, and the Commonwealth of Independent States (CIS) areas.

Furthermore, the group additionally operates 13 lodges (11 within the UAE and two in Bahrain) and 607 cinema screens.

“Majid Al Futtaim is without doubt one of the most prestigious companies within the Middle East and has thousands and thousands of shoppers yearly,” Zhao continued. “Integrating Web3 applied sciences will give its prospects entry to progressive new methods to interact with its manufacturers and supply new methods to pay.”

Other tasks the 2 corporations will collaborate on embody itemizing non-fungible tokens (NFTs) on Binance’s market and making a digital pockets infrastructure to carry cryptocurrencies from a number of platforms.

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