Leading shopping mall operator Majid Al Futtaim has partnered with Binance to accept cryptocurrencies at its malls and other properties.
Majid Al Futtaim, a leading operator of shopping malls, hotels, cinemas, hypermarkets, and retail stores in the Middle East, Africa, and Asia, announced its strategic partnership with global crypto exchange Binance last week of May, 2022. The two companies will cooperate on a number of crypto and blockchain projects.
Binance Pay will be integrated to allow millions of customers to pay with cryptocurrencies at Majid Al Futtaim’s various destinations in line with appropriate laws and regulations. Binance Pay currently supports more than 40 cryptocurrencies, according to Binance’s website.
Majid Al Futtaim operates in 17 countries. The group’s properties include 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. The company also operates 423 Carrefour stores in 16 countries across the Middle East and has exclusive franchise rights in over 30 countries across the Middle East, North Africa, and the Commonwealth of Independent States regions. Furthermore, the group also operates 13 hotels (11 in the UAE and two in Bahrain) and 607 cinema screens.
Other projects the two companies will collaborate on include listing non-fungible tokens (NFTs) on Binance’s marketplace and creating a digital wallet infrastructure to hold cryptocurrencies from multiple platforms.
Source Gulf News, Khaleej Times