Crypto.com secured a UAE SVF license, enabling Dubai government crypto payments through regulated dirham settlement systems.
Key Insights:
- Crypto.com became the first Virtual Asset Service Provider to receive a UAE SVF license.
- Dubai residents can pay government fees using approved cryptocurrencies through Crypto.com infrastructure.
- Emirates Airlines and Dubai Duty Free may adopt Crypto.com payment systems after further regulatory approval.
Dubai moved forward with regulated crypto payments after approving Crypto.com for government transaction processing. The Central Bank of the UAE granted a Stored Value Facilities license to Foris DAX Middle East FZE. The approval allows residents to pay government service fees with approved digital assets through Crypto.com infrastructure.
Central Bank Grants SVF Approval
Crypto.com confirmed the approval through an official statement released on Monday. The company described itself as the first Virtual Asset Service Provider to receive the UAE SVF authorization.
The license allows users to initiate government payments using supported cryptocurrencies. However, government agencies will receive final settlements in UAE dirhams through regulated payment systems.
Crypto.com said approved dirham-backed stablecoins could support settlement procedures in future transactions. The company also confirmed that users must complete verification checks before accessing payment services.
The exchange already operates under a Virtual Asset Service Provider license from Dubai’s Virtual Assets Regulatory Authority. Therefore, the new authorization expands its regulated payment processing capabilities within the UAE market.
Dubai Expands Cashless Payment Strategy
Dubai continues building digital payment infrastructure through its broader Cashless Strategy initiative. The program targets increased digital transactions across public and commercial sectors before 2026.
Crypto.com partnered with Dubai’s Department of Finance in 2025 to support regulated payment systems. The agreement enables the exchange to process virtual asset payments for government service obligations.
The company said settlement procedures will remain within the central bank’s stored-value operational framework. Consequently, digital asset payments will convert into dirhams before final settlement completion.
Crypto.com described the approval as part of its compliance-focused regional growth strategy. However, the authorization does not change existing virtual asset trading regulations within Dubai.
The company stated that the current approval only covers government-related payment processing operations. Dubai authorities continue expanding regulated financial technology partnerships through licensed digital asset companies.
Emirates Airlines and Duty Free Remain Future Targets
Crypto.com identified Emirates Airlines and Dubai Duty Free as possible future commercial payment partners. However, both integrations still require further approval from the Central Bank of the UAE.
Emirates signed a framework agreement with Crypto.com in 2025 to explore Crypto.com Pay integration. Dubai Duty Free also remains part of the company’s planned commercial payment roadmap.
The exchange said future retail and airline services would use similar virtual-asset-to-dirham settlement systems. Therefore, customers could complete transactions with supported cryptocurrencies while merchants receive dirham settlements.
The UAE authorization forms part of Crypto.com’s wider regulated expansion across global markets. The company continues pursuing licenses across Europe, the United States, and Middle Eastern jurisdictions.
Crypto.com also continues developing custody products, exchange services, and regulated payment solutions across multiple regions. The company said the UAE approval strengthens its regulated payment operations within the Middle East market.
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Disclaimer: This article on Cryptowealthnet is only for informational purposes and does not constitute investment advice. Cryptocurrency markets are volatile, and readers should conduct their own research before making financial decisions.
