Crypto.com Receives UAE Stored Value Facilities License For Dubai Government Crypto Payments

Crypto.com said its UAE entity, Foris DAX Middle East FZE, received a Stored Value Facilities (SVF) license from the Central Bank of the UAE, making it the first VASP in the UAE to get the authorization.

The SVF license lets Crypto.com offer crypto payments in the UAE for Dubai government fees, with settlements conducted in UAE dirhams or CBUAE-approved dirham-backed stablecoins exclusively through the SVF framework.

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Crypto.com said the approval activates its partnership with Dubai’s Department of Finance, giving residents a way to pay government service fees using virtual assets via its platform.

The company also said the SVF license could support future payment integrations with Emirates Airlines and Dubai Duty Free, though those services remain subject to further approvals from the UAE central bank.

Eric Anziani, President and COO of Crypto.com, called the licensing milestone “an incredible achievement” and said it “proves our strong commitment to compliance.”

Crypto.com said the SVF authorization applies to its local Dubai entity, Foris DAX Middle FZE, and that users seeking access to the payment services must be onboarded through its VARA-licensed platform.

Mohammed Al Hakim, Crypto.com’s President and GM for UAE and Bahrain, said, “We are now able to offer what no other digital asset platform can, by providing exclusive digital asset payment services for Dubai Government fees to residents in the UAE.”

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The Block reported that Crypto.com said it is the first VASP approved to process crypto payments for Dubai government fees, and that the license builds on a May 12, 2025, agreement between Crypto.com and Dubai Finance.

In the same statement, Crypto.com said settlements will be conducted in UAE dirhams or CBUAE-approved dirham-backed stablecoins, and that the SVF license paves the way for integrations with Emirates Airlines and Dubai Duty Free.

Cointelegraph reached out to Crypto.com and the Central Bank of the UAE for comment, but had not received a response by publication.

Crypto.com framed the SVF license as a payments layer that connects digital-asset access to public-sector payment flows under Dubai’s cashless payments strategy.

The Block said the initiative targets more than 90% of transactions across public and private sectors via cashless methods by 2026, tying the government-fee use case to a broader timetable.

Crypto.com said the SVF license is designed to route crypto payments through licensed infrastructure, with the government-facing settlement layer tied to UAE dirhams or approved dirham-backed stablecoins through the SVF framework.

LeapRate said the license grants Crypto.com exclusive access to process cryptocurrency payments for government services in the country, and that any resident wishing to use virtual asset payment services for government fees must be onboarded through Crypto.com’s platform.

Crypto.com said that following required approvals from the CBUAE, the SVF license will allow it to initiate crypto payment integrations with Emirates Airlines and Dubai Duty Free.