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SFM Corporate Services, a Dubai-based corporate and trust service provider, has announced the acceptance of cryptocurrency as payment for business formation corporate services. The company enables secure and seamless business payments in leading cryptocurrencies for investors and entrepreneurs to establish a company online in a few minutes in 25 jurisdictions worldwide.

“Today, cryptocurrency is capturing a bigger share of the trading market, allowing traders and investors to increase their capital and generate more revenue,” said Reza Afshar, CEO of SFM Corporate Services, in a press release. “A sizable share of our clients are traders and investors who prefer using the same cryptocurrency to purchase our services, eliminating the hassle of currency exchange and lengthy international bank transfers.”

SFM is a company formation specialist operating in UAE, Seychelles, and Hong Kong and servicing over 25 international jurisdictions. With over 15 years of experience, SFM helped structure over 2,000 businesses in the UAE, 6,000 in Seychelles, and 1,500 in Hong Kong. 

“SFMstrive to improve the ease of doing business in the UAE, and one such area of improvement is the payment method. We have been monitoring cryptocurrency closely for the past few years, and we have noticed the increased adoption of cryptocurrency in the market. Confidentiality and security are of primary importance to all clients, and we complete a thorough due diligence check on each new client before onboarding them,” Afshar added.

SFM accepts the 4 major cryptocurrencies such as Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. Aside from all traditional payment methods, the company’s decision to adopt cryptocurrencies aims to strengthen SFM’s leadership in the industry.

“The UAE continues to cement its position as a leading business hub, and by accepting leading cryptocurrencies, we are facilitating market entry for key local and global players,” stated Owiss Refaat, Chief Operating Officer of SFM Corporate Services. “While other online business providers are now doing catch-up on crypto payments in the market, we have already integrated this payment method that gives us an edge over our competitors in the market, and at the same time provides an instant payment method, allowing our clients to access our services easily.”

Clients of this service can use the new payments feature through the SFM app, after registering online on the company’s website, or through the recently launched Client Portal App.

After announcing their acceptance of cryptocurrency payments, SFM already saw a 10% increase in clients’ applications.

As recently reported, the CEO of Bittrex Global noted the efforts of the UAE authorities to poise a crypto-friendly positioning of the region. By his words, Dubai, helped by the status of a tax haven, is poised to benefit from the growing cryptocurrency market in the Middle East.

Image source: https://www.arabianbusiness.com/comment/464617-new-foreign-ownership-law-landmark-boost-for-uae-competitiveness

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