Crypto.com Secures UAE SVF License to Process Dubai Government Payments in Crypto
Crypto.com has received a Stored Value Facilities (SVF) license from the Central Bank of the UAE (CBUAE), marking a regulatory milestone for the cryptocurrency exchange in the Emirates. The approval was granted to the company’s local entity, Foris DAX Middle East FZE, and enables a partnership with the Dubai Department of Finance.
According to the announcement, the agreement will allow UAE residents to pay government fees using virtual assets through Crypto.com’s platform. The move positions Crypto.com as the first virtual asset service provider (VASP) to hold an SVF license in the UAE, highlighting the growing integration of regulated digital asset services into public-sector payment infrastructure.
Payments to Be Settled in Dirhams or Approved Stablecoins
To align with the central bank’s requirements, all financial settlements for the government payment services will be processed exclusively in UAE dirhams or in CBUAE-approved dirham-backed stablecoins. This structure ensures that the underlying settlement process remains within the country’s regulatory framework while still offering users a crypto-enabled payment option.
Users will need to onboard through Crypto.com’s existing platform, which is already regulated by Dubai’s Virtual Assets Regulatory Authority (VARA), in order to access the new payment feature.
Crypto.com Signals Broader Expansion in the UAE
Eric Anziani, President and Chief Operating Officer of Crypto.com, said the license reflects the company’s commitment to compliance and to supporting the development of a regulated digital assets sector in the UAE. He added that becoming the first VASP to receive this license demonstrates the company’s position in the market.
The company also indicated that the SVF license could open the door to additional crypto payment integrations with major commercial entities. Subject to further approval from the CBUAE, Crypto.com plans to introduce payment services with Emirates Airlines and Dubai Duty Free.
The initiative is also aligned with the Dubai Cashless Strategy, which aims to accelerate the adoption of digital payment channels across the emirate. By enabling virtual asset payments for government services, the partnership adds another layer to Dubai’s broader push toward a more digitally integrated economy.
Industry Analysis
Crypto.com’s SVF license underscores how regulatory approval is becoming a key differentiator in the digital asset sector, particularly in markets such as the UAE that are actively shaping crypto frameworks. The ability to facilitate government-related payments through a licensed and supervised structure may encourage wider trust among users and institutions.
At the same time, the requirement that settlements occur in UAE dirhams or approved stablecoins shows that authorities are seeking to balance innovation with control over financial flows. If additional commercial payment integrations receive approval, this model could help further normalize crypto-linked payment use cases in the UAE’s regulated financial ecosystem.
