A Dubai-based law firm will now be accepting payments in cryptocurrencies from its clients. This month onwards, Ashish Mehta & Associates, Solicitors and Legal Consultants have started taking its nascent steps into the digital-asset universe. Clients of the law firm will be able to pay in digital tokens.

According to Chainalysis, the Middle East is one of the fastest-growing cryptocurrency markets in the world, making up 7 per cent of global trading volumes. Payments using cryptocurrencies are accepted through a tie-up with a digital currency platform which processes cryptocurrency payments and automatically converts them to Dirhams (AED).

Availing the new payment option is a soon to launch Dubai school, Citizens School, which has become the first in the Middle East to accept cryptocurrencies for tuition fee payments. The institution will accept payments from the two major cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) aiming to provide parents with flexible payment options, apart from traditional forms of payments.