TLDR
- Dubai has completed its first test of settling crypto payments into UAE dirhams for government fees.
- The Dubai Department of Finance conducted the test in collaboration with the Dubai Land Department and Emirates NBD.
- The payment was processed through the Dubai Pay platform managed by the Digital Dubai Authority.
- The transaction involved a government fee for issuing a property map and was settled securely in UAE dirhams.
- Crypto.com, operating as Foris Dax Middle East, participated after receiving preliminary approval for a payment license.
Dubai has completed a landmark test settling crypto payments into UAE dirhams for government service fees. The Dubai Department of Finance (DoF), in coordination with the Dubai Land Department (DLD), executed this transaction via the Dubai Pay platform. The secure, closed environment pilot integrated with Emirates NBD and complied with local financial regulations.
Dubai Tests Crypto-to-AED Government Payments
Dubai’s Department of Finance led the trial to convert crypto assets into AED and AED stablecoins for government payments. This was achieved with technical support from the Digital Dubai Authority and settlement by Emirates NBD through the Dubai Pay system. The test aimed to validate security, efficiency, and regulatory compliance.
Amina Lootah, Director of Digital Payment Systems Regulation at DoF, confirmed the secure completion of the first-of-its-kind digital transaction. “The system ensured secure conversion from digital assets to AED with full regulatory oversight,” she stated. This reflects Dubai’s commitment to developing a secure and compliant digital payment infrastructure.
The transaction involved paying for a property map service at DLD, and it processed entirely within integrated systems. This test aligns with the Emirate’s goal of adopting digital transactions as part of its smart government strategy. The result confirms that Dubai’s public sector can securely handle digital asset settlements.
Crypto.com’s Role in the Payment Ecosystem Expansion
Crypto.com, operating as Foris Dax Middle East, participated in the test after receiving In-Principle Approval (IPA) from the Central Bank. The IPA enables the firm to provide Stored Value Facilities (SVF), allowing crypto-to-dirham conversion services for public payments. This represents a key step before acquiring the final license.
Mohammed Al Hakim, UAE General Manager of Foris Dax, emphasized the broader vision behind the test’s success. “This trial supports the creation of a trusted and sustainable digital payment ecosystem in Dubai,” he explained. Foris Dax will offer digital asset payment options for various government services once fully licensed.
The company will support both traditional AED and AED-pegged stablecoin settlements. This service will soon be integrated into broader payment platforms to streamline user experiences. Dubai aims to enable fast and secure government fee payments through digital currencies.
Leaders Affirm Digital Economy Commitment
H.E. Abdulrahman Al Saleh, Director General of the DoF, stated that the pilot marks a future-facing shift in digital payments. “Dubai will continue developing financial systems that uphold the highest standards in security and compliance,” he said. The pilot demonstrates a tangible step toward realizing Dubai’s digital economy ambitions.
H.E. Hamad Al Mansoori of Digital Dubai said the integration supports the “City as a Service” model. He highlighted that digital asset payments redefine citizen-government interaction by providing seamless and secure service experiences. This initiative supports Dubai’s leadership in future-ready governance and digital innovation.
DLD Director General Omar Bushahab affirmed that using digital assets reflects Dubai’s progressive technology strategy. “We are applying advanced digital tools before launching full-scale implementations,” Bushahab noted.
