Majid Al Futtaim, a leading shopping mall operator, has partnered with Binance to accept cryptocurrency in its malls and other facilities.” Majid Al Futtaim is one of the most prestigious companies in the Middle East and serves millions of customers every year.” said the CEO of Binance.
Majid Al Futtaim Dives into Crytpo With Binance
Majid Al Futtaim, a leading operator of shopping malls, hotels, cinemas, hypermarkets, and retail stores in the Middle East, Africa, and Asia, last week announced a strategic partnership with global crypto exchange Binance. The two companies will collaborate on a number of crypto and blockchain projects.
First, Binance Pay will be integrated, allowing millions of customers to pay with cryptocurrency “at various Majid Al Futtaim destinations in compliance with appropriate laws and regulations,” the announcement noted, according to Binance’s website. Binance Pay currently supports over 40 cryptocurrencies.
Binance CEO and co-founder Changpeng Zhao (CZ) tweeted last week.
29 shopping malls, 13 hotels, and 4 mixed-use communities now accept crypto through Binance Pay. Adoption continues.
The group’s properties include 29 shopping malls in five countries in the Middle East and North Africa, including Mall of the Emirates, Mall of Egypt, Mall of Oman, and Mall of Saudi. number of visitors was 175 million.
The company also operates 423 Carrefour stores in 16 countries in the Middle East and has exclusive franchise rights in more than 30 countries in the Middle East, North Africa, and the Commonwealth of Independent States (CIS) region.
In addition, the group also operates 13 hotels (11 in the UAE and 2 in Bahrain) and 607 cinemas.
{Majid Al Futtaim is one of the most prestigious companies in the Middle East, serving millions of customers annually,” Zhao continues. “By integrating Web3’s technology, their customers will be able to take advantage of innovative new ways to engage with their brand and offer new payment methods.”
Other projects the two companies are collaborating on include listing non-fiat tokens (NFTs) on the Binance marketplace and building a digital wallet infrastructure that will hold cryptocurrencies from multiple platforms.
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