ZelaaPayAE is a cryptocurrency project based in the United Arab Emirates. This project is backed by His Highness Sheikh Hamdan Bin Ahmed Al Maktoum, the ruling family of Dubai and other partners such as royal families and private offices across Sharjah, Abu Dhabi, and Ras Al Khaimah, essentially covering the entirety of the Arab Emirates.
Through this collaboration, cryptocurrency POS systems and Visa debit cards will be placed across UAE enterprise merchants. The partnership has also made ZelaaPay the Golden Sponsor of DigiByte Foundation.
ZelaaPay has been working towards the enhancement of the digital economy in the UAE by bringing the benefits of digital payments over the payments via fiat currencies to the awareness of the people. All along, this crypto project has been using its native digital token, ZPAE.
DigiByte Foundation tweeted, “We are happy to announce that the #DigiByte Foundation has entered into a partnership with our Golden Sponsor Zelaapay to spread DGB awareness and adoption in United Arab Emirates by placing crypto POS around UAE through enterprise merchant deals and by debit (Visa) cards.”
We are happy to announce that the #DigiByte Foundation has entered into a partnership with our Golden Sponsor @zelaapay to spread $DGB awareness and adoption in United Arab Emirates by placing #crypto #POS around UAE through enterprise merchant deals and by debit (Visa) cards. pic.twitter.com/9yNXsLE4QY
— DigiByte Foundation (@DGB_Foundation) July 5, 2020
The website reveals that ZelaaPay is majorly targeting $3 trillion net worth of the 54 million residents of the UAE. It also stated that the majority of this wealth is being held traditionally.
So, ZelaaPay aims to digitize this wealth and also to give people the necessary control over their hard-earned money, rather than entrust it in the hands of third-parties, such as the government and financial institution.
ZelaaPay expresses its aims as follows:
“Starting in the Emirates, we are building an entire decentralized ecosystem specifically for Gulf Cooperation Council countries and driving the momentum to establish a censorship-resistant cryptocurrency across the Gulf. Focusing upon changing the way Emiratis do transactions and manage their wealth.”
Conclusively, the partnership between DigiByte and ZelaaPay is expected to be mutually beneficial. It will enhance the mainstream adoption of the digital token DGB and will also bring decentralization, scalability, and time-tested blockchain protocol into ZelaaPay ecosystem.