James Atkins
Editor
Editor
In the United Arab Emirates, Binance and Virtuzone, the country’s most significant provider of business and company formation services. Have teamed up to enable crypto payments through Binance Pay.
Virtuzone announced that they are now the first firm in the country to accept crypto payments. Through Binance Pay for business setup, Coin Journal learns from a press statement.
Binance Pay is a borderless payments solution launched by Binance last year. The solution supports major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and others.
Virtuzone will now accept crypto payments for its full suite of business setup services in the UAE. This includes company formation, visa processing, and office space solutions.
“The adoption of cryptocurrency as a payment method is in line with our philosophy of being at the forefront of innovation. This partnership will enable us to offer our clients yet another convenient and secure way to pay for our services,” says Neil Petch, Virtuzone’s co-founder and Chairman.
Virtuzone wants to help entrepreneurs start their businesses by making it possible to pay for the business setup process with cryptocurrency. This will help more companies tap into Bahrain’s thriving startup community.
The leading service provider is also planning to help the UAE use blockchain technology and cryptocurrencies. They will also play a role in the Web 3.0 movement in the country.
“The use of cryptocurrency is still in its infancy, but we believe that it has the potential to revolutionize how business is done not just in the UAE but around the world. We want to be at the forefront of this change and help our clients take advantage of this new technology,” Neil Petch states.
Binance Pay allows you to make contactless, borderless payments and transfers using any crypto.
With Binance Pay, you can instantly send money anywhere in the world.
It also supports many cryptocurrencies and enables user-to-user transfers. So there are no delays or fees associated with transactions handled by intermediaries.
Before Virtuzone, Majid Al Futtaim and JA Resorts and Hotels used Binance Pay to process payments.
Virtuzone CEO George Hojeige comments:
“To foster greater synergy between the crypto and business setup sectors, we’ve teamed up with Binance to create a tech-centred, blockchain-friendly environment where it’s easier to discover firms that specialize in decentralized finance (DeFi), NFT creation, blockchain technology, and other disciplines.”
Nadeem Ladki, Business Development and Strategic Partnerships Executive Director at Binance states:
“Binance Pay’s ease of use and top-level technology and security will be particularly enticing to the worldwide and local startup community seeking to establish themselves in the UAE.”
Virtuzone Chairman and Cofounder Neil Petch adds:
“Virtuzone’s recent partnership with Binance is showing the startup community in the UAE that we are dedicated to finding new solutions that will have a positive effect. By working alongside Binance, which is a renowned technology leader in Web 3.0, we are setting ourselves up as frontrunners of digital transformation across not just the UAE but also other countries in the area.”
Virtuzone is one of the leading company formation and corporate services providers in the UAE. Since its establishment in 2009, Virtuzone has helped over 12,000 entrepreneurs. From more than 100 countries set up and run their businesses in the UAE.
Virtuzone is a part of the Global Excellerator Network, an elite group of the world’s top startup accelerators. And helps entrepreneurs from around the world scale their businesses in the UAE through its mentorship-driven program.
Virtuzone is headquartered in Dubai and has offices in Abu Dhabi, Sharjah, and Ras Al Khaimah.
I have been writing copy for blockchain-related projects since 2017. I understand the importance of being able to communicate clearly and effectively with both technical and non-technical audiences. By leveraging my understanding of the crypto industry trends, I can help increase adoption in this rapidly evolving landscape.
