Crypto.com Obtains UAE Central Bank License for Government Fee Payments

Key Highlights

Table of Contents

Crypto.com receives Stored Value Facilities authorization from UAE’s central bank
Platform enables Dubai residents to settle government fees using digital assets
All transactions settled in UAE dirhams through regulated framework
First Virtual Asset Service Provider to achieve this regulatory status in UAE
Future integration planned with Emirates Airlines and Dubai Duty Free pending approvals

The cryptocurrency exchange Crypto.com has obtained a Stored Value Facilities license from the United Arab Emirates’ Central Bank, creating a regulated channel for Dubai residents to pay government fees using digital currencies. This authorization represents a significant step in Dubai’s strategy to transition toward cashless transactions across its public sector services.

Central Bank Approves Crypto.com’s Payment Infrastructure

According to Crypto.com, its regional entity Foris DAX Middle East FZE has been granted the SVF license by the UAE’s central banking authority. The platform claims to be the inaugural Virtual Asset Service Provider in the Emirates to achieve this regulatory designation. This license transitions the company’s payment capabilities from preliminary approval into full regulatory compliance.

The authorization permits customers to initiate payments using digital currencies, with all final settlements processed in United Arab Emirates dirhams. Crypto.com indicated that settlements could also utilize dirham-pegged stablecoins that have received central bank authorization. This structure ensures government agencies receive payments in local currency while citizens maintain the option to originate transactions with supported cryptocurrency assets.

The regulatory approval also operationalizes Crypto.com’s collaboration with Dubai’s Department of Finance. This partnership framework enables the platform to facilitate digital asset-based payments for various government service charges. Additionally, customers must complete verification procedures through Crypto.com’s VARA-licensed infrastructure before accessing the payment service.

Dubai Accelerates Digital Payment Transformation

The emirate of Dubai has intensified efforts toward digital payment adoption, regulated cryptocurrency operations, and eliminating cash from public administration transactions. Dubai’s Cashless Strategy targets converting the majority of government and commercial payments to digital formats by 2026. Consequently, Crypto.com’s newly acquired license aligns with this comprehensive transition toward regulated digital transaction infrastructure.

Crypto.com previously secured a Virtual Asset Service Provider license from Dubai’s Virtual Assets Regulatory Authority. That credential permits the company to conduct operations within Dubai’s virtual asset regulatory environment. Furthermore, the newly granted SVF license introduces a payments dimension to its existing regulatory authorization.

The exchange characterized the license as evidence of its compliance-oriented growth strategy in the UAE. Nevertheless, the announcement primarily addresses payment functionality and doesn’t alter existing cryptocurrency market regulations. The framework also maintains all settlement activities within the central bank’s authorized parameters for stored-value operations.

Potential Expansion to Airlines and Retail Services

Crypto.com has indicated the license may facilitate upcoming cryptocurrency payment integration with Emirates Airlines and Dubai Duty Free. These proposed services remain subject to additional authorization from the Central Bank of the UAE. The government fee payment capability represents the only definitively confirmed application at this time.

Emirates established a partnership agreement with Crypto.com in 2025 to investigate incorporating Crypto.com Pay into its payment infrastructure. Dubai Duty Free is similarly included in the platform’s projected commercial payment expansion roadmap. Upon approval, both integrations would employ the identical cryptocurrency-to-dirham settlement mechanism.

This UAE regulatory achievement contributes to Crypto.com’s broader strategy of obtaining licenses across significant global markets. The company has pursued regulatory authorization in European jurisdictions and the United States while simultaneously expanding custody services, trading platforms, and payment solutions. The UAE SVF license reinforces its position as a regulated cryptocurrency payment provider in the Middle East region.

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