The UAE's largest shopping mall and retail conglomerate Majid Al Futtaim and Binance, a blockchain ecosystem and cryptocurrency infrastructure provider, have formed a partnership that will allow MAF to harness Web3 technologies in order to serve its millions of customers.
A number of blockchain projects will be undertaken under the agreement, such as the listing of NFTs on Binance's marketplace, the development of a digital wallet infrastructure to hold virtual assets from multiple platforms, and the integration of Binance Pay to allow customers to purchase assets with virtual assets at Majid Al Futtaim destinations.
According to Majid Al Futtaim CEO Alain Bejjani, technological advancement today can only be matched by consumers' voracious appetite for exceptional customer experiences in both the physical and digital worlds.
The CEO and co-founder of Binance, Changpeng Zhao, said: "Binance will be able to provide its customers with new ways to engage with its brands and to make payments".
In the region, Majid Al Futtaim operates 29 shopping malls, 13 hotels, and four mixed-use developments, with additional projects in the pipeline. Partnerships like these enable innovative use cases that define the next digital era to emerge, and Majid Al Futtaim can lead the charge in bridging the physical and Web3 worlds.
The Binance Pay service allows users and merchants around the world to use crypto without incurring special handling fees through a borderless, secure, and contactless user-to-user gateway on the Binance App.
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