Emirates and Dubai Duty Free are considering accepting crypto currencies as payment, in the latest sign of the aviation industry seeking to "future-proof" its business, analysts say.
The airline and airport retailer on Wednesday separately said they had signed an initial agreement with Crypto.com to allow customers to pay through the crypto trading platform's payment service.
Emirates said the initiative is expected to come into effect this year. The move will help the airline tap into "younger, tech-savvy customer segments who prefer digital currencies", while also providing its customers with "greater flexibility and choice", said Adnan Kazim, Emirates' deputy president and chief commercial officer.
The partnership represents a shared ambition to "transform travel and commerce", said Sheikh Ahmed bin Saeed, chairman and chief executive of Emirates Airline and group.
"By exploring advanced digital payment solutions, we aim to enhance the experience for travellers at every touchpoint – from booking to retail," he said in a post on X.
Ramesh Cidambi, managing director of Dubai Duty Free, said adopting digital currency payments, such as cryptocurrency, is a "forward-looking step" that will add "significant value" to the airport retailer's diverse customer base.
Emirates and Dubai Duty Free are the latest in the industry to shift towards digital currency payments. In May, Air Arabia, the UAE's only listed airline, said it will start accepting the UAE-regulated stablecoin, AE Coin, as payment for bookings.
Dubai's tourism chief in May said the emirate was well-placed to take the lead on accepting cryptocurrency payments at its hotels and other tourist establishments to help attract more international visitors.
The move would be a “great” opportunity for the travel and tourism sector, provided it is well-regulated, especially as Dubai's Virtual Assets Regulatory Authority (Vara) already has frameworks in place for cryptocurrencies, Issam Kazim, chief executive of Dubai Corporation for Tourism and Commerce Marketing, told The National at the time.
Future-proofing the sector
Dubai set up watchdog Vara in 2022 to regulate the emerging virtual assets sector.
"The growing interest in crypto and stablecoin payments among airlines – particularly in the GCC – is a strategic signal of the industry’s pivot towards digital innovation and financial inclusivity," said Linus Bauer, founder and managing director of UAE-based consultancy BAA & Partners.
"For carriers like Emirates, this isn’t just about novelty – it’s about future-proofing."
In the Gulf, digital currency adoption is high and governments are supportive of blockchain initiatives, so the acceptance of cryptocurrency payments by airlines can become a differentiator, analysts say.
"It may initially appeal most to younger, tech-savvy travellers and high-net-worth individuals comfortable with decentralised finance, but the long-term potential is broader, especially for ancillary services like in-flight shopping, duty-free and loyalty programmes," Mr Bauer said.
Companies will need to evaluate the costs, compatibility, legal compliance and risks of digital currency volatility, experts warn.
"While the integration costs are manageable with the right FinTech partners, legacy system compatibility, compliance and volatility risk must be carefully managed. Transaction fees can be lower than traditional cards and settlement is faster – another operational advantage," Mr Bauer said.
"Ultimately, crypto payments won’t replace conventional methods soon, but for airlines that want to lead in customer experience and digital agility, offering crypto is increasingly a smart, forward-leaning move."
