- Emirates, one of the world’s largest airlines, plans to accept payment in bitcoin.
- The Japanese investment bank, Nomura plans to offer bitcoin derivatives.
- The South Korean government plans to implement crypto into its institutional system.
As United Arab Emirates (UAE) leading carrier, Emirates airlines, plans to adopt Bitcoin as a payment option for customers, Emirates Chief Operating Officer Adel Ahmed Al Redha acknowledged the many use cases of the metaverse at a media gathering at Arabian Travel Market in Dubai.
With the metaverse, you will be able to transform your whole processes- whether it is in operation, training, sales on the website, or complete experience- into a metaverse type application, but more importantly making it interactive.
The announcement came a week after Dubai became the world’s first authority to establish a metaverse HQ of its Virtual Assets Regulatory Authority. It is clear that UAE is aspiring to stand at the forefront of crypto and web3 adoption. The country has always been very welcoming to digital assets and their underlying technology.
In related news, Nomura, a Japanese investment bank, announced today that it will offer Bitcoin over-the-counter derivatives to its clients. It follows the steps of its Western counterparts, Bank of America and JP Morgan, which both pioneered the adoption of crypto services in the banking sector.
Meanwhile, the new government of South Korea is reportedly set to implement Bitcoin and cryptocurrency into their institutional system. They have planned to finalize the regulatory framework over the local digital asset ecosystem by next year, launch a CBDC by 2023, and enforce all of this by 2024.
The other countries to legalize the use of cryptos are the US, Russia, Canada, Japan, Germany, France, Belarus, Malta, Holland, Singapore, Vietnam, Thailand, and India.