Dubai-based SFM to accept major cryptocurrencies as payment option

By Shilpa Annie Joseph, Official Reporter
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Dubai-based leading corporate service provider SFM Corporate Services has stated that cryptocurrencies would be accepted as payment for business formation services.

According to the statement, Bitcoin, Ethereum, Bitcoin Cash, and Litecoin are among the four major cryptocurrencies accepted by SFM. The company already accepts all main payment methods, and the inclusion of cryptocurrencies is a testament to SFM’s leadership and foresight in the industry.

Cryptocurrency is a type of electronic payment that makes use of blockchain technology to make it possible to utilize it as a payment mechanism. Blockchain technology is one of the finest innovations in finance that dominates global headlines, transforming cryptocurrencies into a new asset class.

Reza Afshar
Reza Afshar

“Today, Cryptocurrency is capturing a bigger share of the trading market, allowing traders and investors to increase their capital and generate more revenue. A sizable share of our clients are traders and investors who prefer using the same cryptocurrency to purchase our services, eliminating the hassle of currency exchange and lengthy international bank transfers. SFM strives to improve the ease of doing business in the UAE and one such area of improvement is the payment method. We have been monitoring cryptocurrency closely for the past few years and we have noticed the increased adoption of cryptocurrency in the market. Confidentiality and security are of primary importance to all clients and we complete a thorough due diligence check on each new client before onboarding them.”

Mr. Owiss Refaat, Chief Operating Officer of SFM Corporate Services said, “The UAE continues to cement its position as a leading business hub, and by accepting leading cryptocurrencies, we are facilitating market entry for key local and global players.”

“While other online business providers are now doing a catch-up on crypto payments in the market, we have already integrated this payment method that gives us an edge over our competitors in the market and at the same time provides an instant payment method allowing our clients to access our services easily,” Mr. Refaat added.

Related: UAE-based food delivery platform Talabat unveils cashless option for all vendors