Dubai Customs partners with Binance to expand digital payment capabilities

Dubai Customs has signed a strategic memorandum of understanding with Binance to expand digital payment capabilities.

The preliminary agreement aims to develop the UAE’s domestic payment ecosystem by integrating digital assets into commercial transactions and enabling the logistics sector to benefit from digital payments, Dubai Customs said in a statement. 

The partnership will improve the efficiency of import–export operations, streamline customs procedures, and attract new investors by offering modern payment options that help expand their businesses and access new global markets.  

“With this MoU, Dubai Customs is establishing a progressive economic model capable of meeting the requirements of the digital economy, creating an innovative business environment that supports Dubai’s ambitions and global competitiveness in fintech and smart payments,” said Sultan Ahmed bin Sulayem, Chairman and CEO of DP World and Chairman of Ports, Customs and Free Zone Corporation. 

“Through this MoU, we will jointly launch innovative solutions capable of making a tangible difference in the customs sector locally and globally,” added Richard Teng, CEO of Binance.