Crypto.com has secured a Stored Value Facilities license from the Central Bank of the UAE, becoming the first virtual asset service provider in the country to be approved to allow residents to pay Dubai government fees using cryptocurrency.
- Crypto.com has secured a Stored Value Facilities license from the Central Bank of the UAE, becoming the first virtual asset...
- The license allows Crypto.com to process Dubai government fee payments in UAE dirhams or dirham-pegged stablecoins.
- How the Crypto.com crypto payment works The conversion model removes crypto volatility risk from the government’s side of the transaction.
- Dubai’s Department of Finance signed a Memorandum of Understanding with Crypto.com at the Dubai FinTech Summit in May 2025 to...
Keep reading for the full breakdown on AED stablecoin — everything you need to know is covered below.
The license allows Crypto.com to process Dubai government fee payments in UAE dirhams or dirham-pegged stablecoins.
Customers can pay using digital assets held on the platform, which are converted into AED, and the transaction is completed through a central bank-licensed digital wallet. Government departments will then receive settlement in AED fiat or AED-backed stablecoins.
How the Crypto.com crypto payment works
The conversion model removes crypto volatility risk from the government’s side of the transaction. Once technical arrangements are finalised, individuals and “business customers of government entities” will be able to pay service fees through digital wallets on Crypto.com.
Because the platform is the only VASP holding the SVF license, anyone wanting to use virtual asset payment services for Dubai government fees must be onboarded through its VARA-licensed platform.
The announcement follows in-principle approval granted in October 2025, after which Crypto.com operated as a Restricted Wallet Provider under conditions set by the central bank.
Dubai’s Department of Finance signed a Memorandum of Understanding with Crypto.com at the Dubai FinTech Summit in May 2025 to facilitate cryptocurrency payments for government services.
The license also unlocks pending integrations with Emirates Airlines and Dubai Duty Free, both formalised through an MOU signed in July 2025 in the presence of HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Civil Aviation Authority and CEO of Emirates Airline and Group. Emirates had targeted 2026 for integrating Crypto.com Pay into its booking systems.
Regulatory position in the UAE
Crypto.com holds a VASP license from the Virtual Assets Regulatory Authority in Dubai, which was extended in March 2025 to cover derivatives products, including futures, perpetual swaps, and CFDs.
The SVF license from the Central Bank adds a payments layer on top of those trading and custody permissions. VARA regulates virtual asset service activities, while the CBUAE’s SVF framework governs stored value and payment services.
Eric Anziani, President and COO of Crypto.com, said: “Increasing everyday utility of digital assets is central to our vision at Crypto.com. This latest regulatory milestone is a testament to both our commitment to responsible innovation, as well as to the UAE for seeing the promise of regulated digital commerce.”
The crypto payment push aligns with Dubai’s Cashless Strategy, which aims to achieve 90 per cent of transactions in the emirate’s public and private sectors being cashless by 2026.