Crypto.com Obtains Regulatory License in UAE, Enables Cryptocurrency Payments for Dubai Government Fees
May 12, 2026 — Crypto.com, a leading cryptocurrency trading platform, announced a significant regulatory milestone in the United Arab Emirates (UAE). Its UAE-based entity, Foris DAX Middle East FZE, has received a Stored Value Facility (SVF) license from the Central Bank of the UAE (CBUAE) on May 11, 2026. This achievement marks Crypto.com as the first Virtual Asset Service Provider (VASP) in the UAE to be granted this specific regulatory status, opening new avenues for crypto payments in the region.
Groundbreaking Regulatory Development
The SVF license grants Crypto.com the regulatory framework to offer prepaid payment services, enabling customers to store monetary value digitally for future payments. In partnership with the Dubai Finance Department, the licensed Crypto.com entity can now facilitate government fee payments using virtual assets for residents in Dubai.
While all settlements for these payments will be processed in UAE dirhams or dirham-backed stablecoins approved by the Central Bank, this development acts as a pivotal bridge linking digital assets with the traditional cash economy.
Eric Anzani, Chief Operating Officer at Crypto.com, stated:
"Being the first VASP to obtain this license is a remarkable achievement that demonstrates our strong commitment to regulatory compliance and to advancing a regulated digital asset ecosystem in the UAE."
Supporting UAE’s Vision for a Cashless Economy
The UAE government has been pursuing an ambitious strategy to transition into a 100% cashless payment system. Crypto.com’s new SVF license aligns seamlessly with this vision, providing the infrastructure needed to incorporate cryptocurrencies into everyday transactions while maintaining financial stability through dirham-based settlements.
Mohamed Al Hakim, General Manager for UAE and Bahrain at Crypto.com, emphasized:
"We are uniquely positioned to offer services that no other digital asset platform currently provides. It is a great honor to launch our partnership with Dubai Finance and contribute to enabling the cashless payment strategy — and shaping the future of digital payments in the UAE."
Upcoming Crypto Payment Services with Major UAE Brands
Beyond government fees, Crypto.com is preparing to roll out cryptocurrency payment options soon in collaboration with major regional companies, including Emirates Airlines and Dubai Duty Free, scheduled for launch within 2026. This expansion will allow travelers and consumers to use cryptocurrencies for purchases, further integrating digital assets into the UAE’s mainstream economy.
Regulatory Landscape and Distinctions
It is important to distinguish between the SVF license and the Virtual Assets Regulatory Authority (VARA) license in the UAE’s regulatory framework. Whereas VARA licenses permit the operation of crypto exchanges, brokerage services, and custody functions, the SVF license—secured by Crypto.com—caters specifically to facilities where users can store value for future payments. This unique authorization fills a crucial gap between digital asset usage and traditional payment processes.
A Step Forward for Digital Innovation in the UAE
Crypto.com’s regulatory success and expanding partnerships reinforce the UAE’s role as a hub for digital financial innovation and blockchain adoption. Complementary initiatives, such as Dubai’s Innovation City launching blockchain-based digital identity cards for instant verification, reflect the country’s broader commitment to integrating cutting-edge technology into public and commercial sectors.
About Crypto.com:
Crypto.com is a global cryptocurrency platform offering trading, payment, and financial services to millions worldwide. With a strong focus on compliance and innovation, it continues to expand its footprint in key markets, including the UAE.
For further information, please contact Crypto.com or visit the Central Bank of UAE’s official channels.