Crypto.com becomes first UAE-licensed VASP to offer crypto payments for government fees

Crypto.com has become the first virtual asset service provider licensed by the Central Bank of the UAE to offer regulated crypto payment services, giving residents the ability to pay government fees using digital assets and dirham-backed stablecoins.

Through its regional entity, Foris DAX Middle East FZE, Crypto.com secured the Stored Value Facilities authorization from the Central Bank of the UAE (CBUAE), giving the company legal clearance to facilitate virtual asset and stablecoin payment services tied to government and commercial transactions.

The Crypto.com SVF License UAE development strengthens Dubai’s broader ambition to become one of the world’s leading digital finance hubs while accelerating the emirate’s transition toward a cashless economy.

Crypto.com becomes first UAE VASP with SVF approval

The newly granted Crypto.com SVF License UAE allows the company to issue and manage regulated payment instruments linked to digital wallets and stablecoin-based settlements.

Under UAE regulations, an SVF license is required for any non-bank institution offering prepaid payment services, digital wallets, or similar financial products. The framework ensures that payment providers comply with strict operational, liquidity, and consumer protection requirements.

The approval follows an In-Principle Approval granted to Foris DAX Middle East in October 2025. At the time, the company indicated the authorization would support crypto payment integrations for public sector services and government fees.

Now fully licensed, the Crypto.com SVF License UAE framework enables residents to pay certain government-related charges using virtual assets or UAE dirham-backed stablecoins approved by the central bank.

Dubai Government partnerships move forward

One of the most important aspects of the Crypto.com SVF License UAE announcement is its direct connection to Dubai government payment infrastructure.

Crypto.com previously signed agreements with Dubai’s Department of Finance to support digital payment services tied to public sector transactions. With the final approval now secured, those integrations can officially move toward deployment.

According to the company, all settlements under the system will ultimately be processed in UAE dirhams or approved AED-backed stablecoins through the regulated SVF structure.

The move aligns with Dubai’s long-term cashless strategy, which aims to digitize a large share of public and private financial activity over the coming years.

Mohammed Al Hakim, President and General Manager for UAE and Bahrain at Crypto.com, said the approval gives the company a unique position in the regional market.

“We are now able to offer what no other digital asset platform can, by providing exclusive digital asset payment services for Dubai Government fees to residents in the UAE,” Al Hakim stated.

The Crypto.com SVF License UAE initiative also strengthens the company’s standing among regulators as global exchanges increasingly compete for legitimacy in major financial jurisdictions.

Expansion beyond government services

The Crypto.com SVF License UAE approval is not limited to public sector payments alone. The company confirmed that, subject to additional regulatory clearances, the framework will also support crypto payment integrations with Emirates Airlines and Dubai Duty Free.

Those partnerships were initially announced as part of Crypto.com’s broader UAE expansion strategy over the last 18 months.

The exchange has steadily built relationships across both government-linked and private institutions, including collaborations involving Emarat Energy and the Dubai Land Department.

Industry observers say the Crypto.com SVF License UAE milestone could become a model for how regulated crypto payment systems integrate into mainstream commercial infrastructure without bypassing central bank oversight.

UAE continues aggressive crypto push

The Crypto.com SVF License UAE approval arrives as the United Arab Emirates continues strengthening its position as one of the most crypto-friendly jurisdictions globally.

Dubai’s Virtual Assets Regulatory Authority (VARA) has already licensed multiple global exchanges, while Abu Dhabi has expanded digital asset oversight through the Abu Dhabi Global Market framework.

Unlike many jurisdictions still debating crypto regulation, UAE authorities have focused on building structured licensing systems designed to attract institutional capital and blockchain firms.

The Crypto.com SVF License UAE announcement also coincides with rising activity surrounding AED-backed stablecoins. AE Coin, the first licensed dirham stablecoin in the UAE, has already secured partnerships with both public and private sector organizations.

That growth reflects increasing demand for blockchain-based payment infrastructure tied to regulated fiat-backed digital currencies.

Compliance becomes a competitive advantage

Crypto.com executives framed the Crypto.com SVF License UAE approval as proof that compliance and regulation are becoming central competitive advantages in the digital asset sector.

Eric Anziani, President and COO of Crypto.com, described the approval as an important validation of the company’s regulatory-first strategy.

“This is an incredible achievement and proves our strong commitment to compliance,” Anziani said.

The statement comes at a time when global regulators are increasing scrutiny on exchanges operating without formal licensing structures.

By securing the Crypto.com SVF License UAE, the exchange gains a significant advantage in one of the fastest-growing crypto markets globally while deepening its relationship with UAE financial authorities.

Crypto payments enter a new phase in the UAE

The Crypto.com SVF License UAE approval highlights how digital assets are increasingly moving beyond speculative trading into regulated financial utility.

Rather than positioning crypto solely as an investment vehicle, UAE authorities are integrating blockchain-based payments into everyday commerce and public sector infrastructure.

For Crypto.com, the approval could open the door to deeper institutional adoption, increased payment volumes, and expanded stablecoin usage across the region.

The broader significance of the Crypto.com SVF License UAE milestone lies in what it signals to the global market: regulated crypto payment systems are no longer experimental. In the UAE, they are becoming part of official financial infrastructure.