The approval activates the company’s partnership with Dubai’s Department of Finance and could later support integrations with Emirates and Dubai Duty Free, pending additional approvals. The move expands Crypto.com’s regulatory presence in the UAE alongside its existing VARA license. Crypto.com Wins UAE License Crypto.com secured a Stored Value Facilities (SVF) license from the Central Bank of the United Arab Emirates. The approval allows residents in Dubai to pay government service fees using cryptocurrencies through Crypto.com’s platform, while the actual settlements are processed in UAE dirhams or dirham-backed stablecoins that have been approved under the country’s SVF framework. The authorization applies specifically to Crypto.com’s Dubai-based entity, Foris DAX Middle East FZE, and enables the company to move forward with its partnership with Dubai’s Department of Finance. Announcement from Crypto.com Through this collaboration, users will be able to fund payments using digital assets, while the payment infrastructure converts the transactions into local currency for settlement purposes. The move is part of Dubai’s strategy to accelerate cashless payments and modernize its financial ecosystem by using blockchain technology and regulated digital asset infrastructure. By integrating cryptocurrency payments into public sector services, Dubai is taking practical steps toward mainstream blockchain adoption while maintaining regulatory oversight through approved settlement mechanisms. Crypto.com also revealed that the new license could eventually support future integrations with major commercial entities like Emirates and Dubai Duty Free. However, these services are still subject to additional approvals from the UAE central bank before they can officially launch. If approved, the integrations would extend the same crypto-to-dirham settlement model into retail and travel-related transactions. The latest approval expands Crypto.com’s regulatory footprint in the UAE, where the company already holds a Virtual Asset Service Provider license from Dubai’s Virtual Assets Regulatory Authority (VARA). Beyond the UAE, Crypto.com has also been aggressively pursuing regulatory approvals in other markets. In fact, the company recently secured authorization under the European Union’s Markets in Crypto-Assets (MiCA) framework and also received conditional approval from the United States Office of the Comptroller of the Currency for a national trust bank charter. That approval would allow the firm to operate as a qualified digital asset custodian in the US market. At the same time, Crypto.com is expanding its ecosystem beyond just traditional crypto trading. The company recently moved into event-based derivatives and prediction markets through a regulated US affiliate.
