TLDR
- Crypto.com wins UAE SVF license for Dubai government crypto payments
- Dubai residents can now pay government fees through Crypto.com crypto rails
- Crypto.com expands UAE payment push with central bank SVF approval
- UAE license lets Crypto.com settle crypto payments in dirhams securely
- Crypto.com may extend crypto payments to Emirates and Dubai Duty Free
Crypto.com secured a Stored Value Facilities license from the Central Bank of the UAE, opening a regulated path for crypto-funded government payments in Dubai. The approval allows UAE residents to pay Dubai government fees with supported digital assets through the company’s platform. It also supports Dubai’s cashless payments plan, which aims to reduce reliance on physical cash across public services.
Crypto.com Gains UAE Stored Value License
Crypto.com said its UAE entity, Foris DAX Middle East FZE, received the SVF license from the central bank. The company said it became the first Virtual Asset Service Provider in the UAE to secure this approval. The license moves its payment plan from earlier approval status into a regulated operating setup.
The license allows users to fund payments with digital assets, while settlements happen in UAE dirhams. Crypto.com said settlements may also use dirham-backed stablecoins approved by the central bank. Therefore, government entities receive local-currency settlement while users begin payments with supported crypto assets.
The approval also activates Crypto.com’s partnership with Dubai’s Department of Finance. Through this partnership, the company can support digital asset payments for government service fees. Moreover, users must complete onboarding through Crypto.com’s VARA-licensed platform before using the service.
Dubai Pushes Cashless Government Payments
Dubai has increased its focus on digital payments, regulated crypto services, and cashless public-sector transactions. The Dubai Cashless Strategy aims to make most government and private-sector payments cashless by 2026. Hence, the Crypto.com license fits into a wider shift toward regulated digital payment rails.
Crypto.com already holds a Virtual Asset Service Provider license from Dubai’s Virtual Assets Regulatory Authority. That approval allows the company to operate within Dubai’s virtual asset framework. Besides, the new SVF license adds a payments layer to its existing regulatory presence.
The company said the license reflects its compliance-focused expansion in the UAE. However, the announcement mainly concerns payment services and does not change broader crypto market rules. It also keeps settlement inside the central bank’s approved framework for stored-value facilities.
Emirates and Dubai Duty Free Could Follow
Crypto.com said the license may support future crypto payment integrations with Emirates Airlines and Dubai Duty Free. These services still require further approval from the Central Bank of the UAE. The government-fee payment service remains the main confirmed use case for now.
Emirates signed an agreement with Crypto.com in 2025 to explore adding Crypto.com Pay to its systems. Dubai Duty Free also sits within the company’s planned commercial payment expansion. If approved, both integrations would use the same crypto-to-dirham settlement model.
The UAE approval adds to Crypto.com’s wider regulated expansion across major markets. The company has pursued licenses in Europe and the United States while expanding custody, trading and payment products. The UAE SVF license strengthens its regional role in regulated crypto payment services.
