Crypto.Com Lands Exclusive UAE Government Crypto Payments Deal
Crypto.com becomes the first VASP in the UAE to receive a Stored Value Facilities license from the Central Bank, giving it exclusive rights to process government fee payments in digital assets.
First VASP to Clear the UAE's Highest Payment Bar
@cryptocom's UAE entity, Foris DAX Middle East FZE, has been granted a Stored Value Facilities (SVF) license by the Central Bank of the UAE. The license makes Crypto.com the first Virtual Asset Service Provider in the country to receive regulatory approval to process government payments via digital assets.
The license follows an earlier in-principle approval granted in October 2025, which paved the way for full authorization. The final SVF license was issued after the Central Bank's Supervision, Market Conduct, and AML departments completed on-site system inspections to verify full technical and compliance readiness.
The license activates a partnership with the Dubai Department of Finance, first announced at the Dubai FinTech Summit in May 2025, under which UAE residents will be able to pay government service fees using virtual assets through the Crypto.com platform. All financial settlements will be conducted in UAE dirhams or Central Bank-approved dirham-backed stablecoins. Crypto payments are converted and settled in local currency before reaching government accounts, a structure designed to insulate public finances from crypto price volatility while enabling digital asset holders to transact natively.
An Exclusive Position and What Comes Next
As the only VASP to hold an SVF license in the UAE, anyone wanting to use virtual asset payment services in the country must have been onboarded by Crypto.com's VARA-licensed platform. The exclusivity makes Crypto.com the sole gateway for state-fee crypto payments in the UAE for as long as no rival holds an equivalent license.
The deal also fits into a wider municipal push. Dubai's Director of Digital Payment Systems Regulation has stated that the goal is for over 90% of all public and private sector transactions to be cashless by 2026.
The SVF license also clears a critical regulatory prerequisite for two high-profile partnerships that had been pending activation: Crypto.com can now initiate crypto payment integrations with Emirates Airlines and Dubai Duty Free. Emirates had targeted 2026 to integrate Crypto.com Pay into its booking systems, which would make it the world's largest airline to accept direct crypto payments.
"To be the first VASP to receive this license is an incredible achievement," said Eric Anziani, President and COO of @cryptocom. Mohammed Al Hakim, President and GM for the UAE and Bahrain, added that the partnership with Dubai Finance would support the emirate's cashless strategy while helping advance the future of digital payments in the UAE.
Sources:
Crypto.com Official Announcement: Foris DAX Middle East SVF License
FinanceFeeds: Crypto.com Wins UAE Approval to Handle Dubai Government Crypto Transactions
The Block: Crypto.com Receives UAE License Tied to Dubai Government Crypto Payments
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Jon WangJon studied Philosophy at the University of Cambridge and has been researching cryptocurrency full-time since 2019. He started his career managing channels and creating content for Coin Bureau, before transitioning to investment research for venture capital funds, specializing in early-stage crypto investments. Jon has served on the committee for the Blockchain Society at the University of Cambridge and has studied nearly all areas of the blockchain industry, from early stage investments and altcoins, through to the macroeconomic factors influencing the sector.
