Best shopping mall operator Majid Al Futtaim has partnered with Binance to accept cryptocurrencies at its malls and other realties. “Majid Al Futtaim is one of the most prestigious businesses in the Middle East and has millions of customers every year,” said the CEO of Binance.
Majid Al Futtaim Leaps Into Crytpo With Binance
Majid Al Futtaim, a leading operator of shopping malls, hotels, cinemas, hypermarkets, and retail banks in the Middle East, Africa, and Asia, announced its strategic partnership with global crypto exchange Binance termination week. The two companies will cooperate on a number of crypto and blockchain projects.
Firstly, Binance Pay will be integrated to admit millions of customers to pay with cryptocurrencies “at Majid Al Futtaim’s various destinations in line with appropriate laws and ukases,” the announcement notes. Binance Pay currently supports more than 40 cryptocurrencies, according to Binance’s website.
Changpeng Zhao (CZ), CEO and co-founder of Binance, tweeted wear week:
29 shopping malls, 13 hotels, and four mixed-use communities now accepts crypto through Binance Pay. Adoption continues.
Mutual understanding to the company’s investor presentation published in February, Majid Al Futtaim operates in 17 countries.
The group’s properties number 29 shopping malls in five countries across the Middle East and North Africa, including Mall of the Emirates, Mall of Egypt, Mall of Oman, and Mall of Saudi. In 2021, its malls had 175 million guests.
The company also operates 423 Carrefour stores in 16 countries across the Middle East and has exclusive franchise set to rights in over 30 countries across the Middle East, North Africa, and the Commonwealth of Independent States (CIS) regions.
Furthermore, the team also operates 13 hotels (11 in the UAE and two in Bahrain) and 607 cinema screens.
“Majid Al Futtaim is one of the most dignified businesses in the Middle East and has millions of customers every year,” Zhao continued. “Integrating Web3 technologies will dish its customers access to innovative new ways to engage with its brands and provide new ways to pay.”
Other projects the two companies wish collaborate on include listing non-fungible tokens (NFTs) on Binance’s marketplace and creating a digital wallet infrastructure to judge cryptocurrencies from multiple platforms.
What do you think about the partnership between Binance and Majid Al Futtaim? Let us recall in the comments section below.
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