Crypto.com has now secured regulatory approval from the United Arab Emirates for the faster adoption of cryptocurrencies in government payment systems in Dubai. The company said its regional entity, Foris DAX Middle East FZE, received a Stored Value Facilities (SVF) license from the UAE Central Bank.
The approval makes Crypto.com the first virtual asset service provider in the country to obtain the license. The development strengthens Dubai’s ambition to become a leading global hub for regulated digital finance and crypto innovation.
The newly secured license allows Crypto.com to facilitate regulated crypto payment services across the UAE. The framework enables users to pay government service fees through digital assets at approved payment channels. Authorities plan to process transactions in either UAE dirhams or stablecoins pegged to the UAE dirham. The regulatory framework seeks to provide users with access to cryptocurrency while maintaining full control over their activities through government regulations.
The approval also brings renewed attention to Crypto.com’s earlier partnership with Dubai Finance. The agreement, made public in 2025, allowed residents and businesses to use Crypto.com's digital payment systems to pay government fees.
The move aligns with Dubai's wider ‘Dubai Cashless Strategy.' This aims to achieve more than 90 percent cashless transactions across both public and private sectors by the year 2026. The city of Dubai has progressively developed its cryptocurrency regulatory framework over the past three years. The UAE Central Bank and Dubai's Virtual Assets Regulatory Authority (VARA) have established licensing systems.
This is expected to help them attract worldwide crypto companies while enforcing necessary compliance requirements. The latest approval from industry experts will boost institutional adoption of digital assets across the Gulf region. Crypto.com has continued its trend of expanding licensed operations in major international markets. This includes Singapore, Europe, Canada, and the Middle East.
The UAE approval enables the company to expand its regulatory framework. Thus, establishing a stronger presence in one of the world's top developing cryptocurrency markets.
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