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- Crypto.com secures exclusive UAE approval for government crypto payment processing services.
- Dubai expands cashless ambitions through Crypto.com’s newly approved payment infrastructure framework.
- UAE regulators approve Crypto.com for government-linked digital asset payment settlement operations.
Following a key regulatory permission directly tied to the UAE government’s payment platform, payment adoption in the UAE continued to increase. The development puts the exchange at the heart of the emirate’s emerging trend towards a cashless society and reinforces its footprint within the Middle East financial market. Crypto.com shared on Monday that its regional division, Foris DAX Middle East FZE, has obtained a license from the Central Bank of the UAE as a Stored Value Facilities. Dubai Digital Asset Payments are now possible via the company in relation to government services.
Moreover, the exchange revealed that it is the first virtual asset service provider to be approved in the Emirates. This designation essentially enables Crypto.com to act as the sole platform to enable such governmental crypto transactions. The announcement also comes on the heels of earlier agreement signed between Dubai Finance and Crypto.com in the month of May 2025. The alliance was founded on a framework that will facilitate government payments using cryptocurrency as part of Dubai’s broader cashless initiative, the company states.
Also Read: BNY Pushes Deeper Into UAE Crypto Market With New Custody Expansion
Dubai Accelerates Cashless Payment Expansion
Dubai authorities are making strides to spread the use of digital payments in both the private and public sector. Furthermore, by the end of 2026 the government would like to decrease the amount of cash payments in such transactions. Amna Mohammed Lootah, Director of Digital Payment Systems Regulation, had said earlier that the strategy aims at moving the whole economy towards cashless transactions by more than 90%. It extends to government work as well as the general business.
Mohammed Al Hakim, President and GM for UAE and Bahrain at Crypto.com, stated the approval is a significant progress in their regional operations. Now, the exchange has revealed that it can provide exclusive digital asset payment services directly linked to the fees imposed by the Dubai government. In addition to increasing payment access, the business shared that users need to go through the onboarding process via the company’s VARA-licensed platform to avail of the new services. These transactions will also require approval by the UAE central bank, according to its rules.
The payment settlement will be made in UAE dirhams or cryptocurrencies linked to the UAE dirham and regulated by the Central Bank of the UAE (CBUAE), Crypto.com clarified.
Crypto.com Expands Beyond Government Payment Services
The company also announced its plans for commercialization generally with regard to the license approval. According to the exchange, the authorization might pave the way for future crypto payment integrations at Emirates Airlines and Dubai Duty Free.
The approval is part of the ongoing North African countries blockchain infrastructure development and registration of the stablecoins and big commercial digital finance systems.
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