Crypto.com has become the first Virtual Asset Service Provider in the UAE to receive a Stored Value Facilities license from the Central Bank of the UAE. The approval allows the company to launch crypto payment services for Dubai government fees through its partnership with Dubai Finance. Payments will settle in UAE dirhams or approved stablecoins under a regulated framework. The milestone strengthens the UAE’s push toward a cashless economy and positions Dubai as a global leader in the adoption of regulated digital assets.
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