Ras Al Khaimah’s recently announced free zone for virtual asset firms will explore accepting crypto payments from companies looking into setting up their businesses in the emirate, a lawyer involved in the hub’s development said.
Dubai-based crypto lawyer Irina Heaver told Cointelegraph that once the Ras Al Khaimah Digital Assets Oasis (RAK DAO) secures the appropriate partners, it will check out crypto payments, including Bitcoin (BTC) and stablecoins, for corporate registrations, office rent and other services. “After all, cities and cantons in Switzerland have been doing this for years,” she noted.