📺 Stream EntrepreneurTV for Free 📺

Virtuzone Is Now Accepting Bitcoin Payments For Business Setup In The UAE By being an early adopter, Virtuzone hopes to help bolster the growth of digital technologies in the country.

You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.


Virtuzone, a UAE-based company formation specialist, is now accepting bitcoin payments for its business setup services.

Virtuzone, part of Dubai-based holding company Virtugroup, aims to make the business innovation industry in the UAE more inclusive by making cryptocurrency more accessible, affordable and convenient for entrepreneurs in the UAE and beyond. By being an early adopter of cryptocurrency, the company said in a statement, it hopes to help bolster the growth of digital technologies in the country. "Accepting bitcoin as payment is only one of the steps we are taking to continuously revolutionize how business setup is done in the country, adding significant value to our SME community and aiding the local economy," George Hojeige, CEO of Virtuzone, said when commenting on how exploring cryptocurrency aligns with company's mission.

Virtuzone is joining the likes of Microsoft, Whole Foods and Twitch and other companies in accepting bitcoin as payments for its products and services. As bitcoin becomes one of the most used cryptocurrencies globally, its value has reached approximately US$40,000 at one point in January of this year. According to data from crypto analytics website BitInfoCharts, from May 20-June 14 in 2020, bitcoin transaction fees decreased by 91% from $6.65 to $0.56- with a lower fee for monetary transactions, this, perhaps, is an incentive for businesses to accept bitcoin, and will make it interesting to watch.

Related: Bahrain's Rain Management Aims To Increase Crypto Assets Adoption After Raising US$6 Million In Series A Funding

Side Hustle

These Coworkers-Turned-Friends Started a Side Hustle on Amazon — Now It's a 'Full Hustle' Earning Over $20 Million a Year: 'Jump in With Both Feet'

Achal Patel and Russell Gong met at a large consulting firm and "bonded over a shared vision to create a mission-led company."


9 Success Habits of Wealthy People That Cost Nothing

Money isn't everything but lack of money is a lame excuse for a lot things.

Growth Strategies

Bolstering Bridges Between France And The GCC: A Look Back At The Inaugural Edition Of Vision Golfe

Held under the patronage of French President Emmanuel Macron, Vision Golfe was staged by Business France, a French government agency that supports the international development of the country's economy.


"We Got Funded!" UAE-Based Keyper Raises US$4 Million In A Pre-Series A Round, And An Additional $30 Million In Sukuk Financing

With this influx of funds, Keyper is set to further digitize the UAE's rental ecosystem, while also allocating some amount towards innovating its rent-now-pay-later solution.

Thought Leaders

7 Movies on Netflix All Entrepreneurs Should Watch

These films will both entertain and educate.


Entrepreneur Middle East's Achieving Women 2021: H.E. Hend Al Otaiba, UAE Ambassador To France

"My strategy is to continue to build on the solid relationship between the UAE and France, building bridges, and furthering cooperation."