Dubai's Majid Al Futtaim Partners With Binance, Now Accepts Crypto At 29 Shopping Malls And 13 Hotels

Shopping mall operator Majid Al Futtaim has partnered with global cryptocurrency exchange Binance to accept cryptocurrencies at its malls and other properties.

According to reports, the partnership will see the two cooperate on a number of blockchain projects, including listing of NFTs on Binance’s marketplace, the creation of a digital wallet infrastructure to hold virtual assets from multiple platforms, and the integration of Binance Pay — allowing customers to purchase with virtual assets at Majid Al Futtaim’s various destinations.

Majid Al Futtaim operates shopping malls, hotels, cinemas, hypermarkets and retail stores in the Middle East, Africa and Asia.

Last week, Changpeng Zhao (CZ), CEO and co-founder of Binance, tweeted, "29 shopping malls, 13 hotels, and four mixed-use communities now accepts (sic) crypto through Binance Pay. Adoption continues."

Majid Al Futtaim operates in 17 countries. Its properties include 29 shopping malls in five countries across the Middle East and North Africa, including the Mall of the Emirates, Mall of Egypt, Mall of Oman and Mall of Saudi. Last year, its malls had 175 million visitors.

“The exponential rate of technology development today is matched only by consumers’ voracious appetite for exceptional customer experiences in both the physical and digital world,” said Majid Al Futtaim CEO Alain Bejjani.

CZ said that “integrating Web3 technologies will give its customers access to innovative new ways to engage with its brands and provide new ways to pay”.

“Through partnerships like these, we will see the innovative use-cases that come to define the next digital era emerge, and Majid Al Futtaim is positioned to become a trailblazer in bridging the gap between physical and Web3 experiences.”