Crypto.com has become the first Virtual Asset Service Provider in the UAE to receive a full Stored Value Facilities (SVF) license from the Central Bank of the UAE, a milestone that activates crypto payments for Dubai government services and unlocks pending integrations with Emirates Airlines and Dubai Duty Free.
The announcement marks the culmination of a regulatory process that began in October 2025 when Crypto.com received in-principle approval for the license. The full SVF grant gives the platform exclusive positioning: as the only VASP holding the license, anyone wanting to use virtual asset payment services for Dubai government fees must be onboarded through Crypto.com’s VARA-licensed platform.
The SVF license directly activates Crypto.com’s partnership with the Dubai Department of Finance, first announced at the Dubai FinTech Summit in May 2025. Under the arrangement, UAE residents will be able to pay government service fees using virtual assets through Crypto.com’s platform.
All financial settlements will be conducted in UAE dirhams or CBUAE-approved dirham-backed stablecoins exclusively through the SVF framework. This means crypto payments are converted and settled in local currency before reaching government accounts — a structure designed to insulate public finances from crypto volatility while still enabling digital asset holders to transact natively.
The partnership supports the Dubai Cashless Strategy, an initiative under the D33 economic agenda targeting 90% cashless transactions across both public and private sectors. Dubai officials have estimated that the digital payment transition could add at least AED 8 billion ($2.1 billion) annually to the emirate’s economy.
“To be the first VASP to receive this license is an incredible achievement and proves our strong commitment to compliance and to advancing the regulated digital assets ecosystem in the UAE,” said Eric Anziani, President and COO of Crypto.com.
The SVF license also clears a critical regulatory prerequisite for two high-profile partnerships that have been pending activation. Following the required approvals from the CBUAE, the license will allow Crypto.com to initiate its crypto payment integrations with Emirates Airlines and Dubai Duty Free.
Both partnerships were formalized in July 2025 through a Memorandum of Understanding signed in the presence of HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Civil Aviation Authority and CEO of Emirates Airline & Group. Emirates had targeted 2026 for integrating Crypto.com Pay into its booking systems, which would make it the largest airline in the world to accept direct crypto payments. Dubai Duty Free’s integration would extend crypto payments to both physical retail stores and online platforms at Dubai International Airport — one of the world’s busiest travel hubs.
“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,” said Mohammed Al Hakim, President and GM of Crypto.com’s UAE and Bahrain operations.
Crypto.com’s UAE regulatory footprint is now among the most comprehensive of any crypto platform operating in the region. The company holds a VASP license from Dubai’s Virtual Assets Regulatory Authority (VARA), which was extended in March 2025 to cover derivatives products, including futures, perpetual swaps, and CFDs. The SVF license from the Central Bank adds a payments layer on top of the trading and custody permissions.
The distinction matters. VARA regulates virtual asset service activities — trading, custody, advisory — while the CBUAE’s SVF framework governs stored value and payment services. Holding both licenses positions Crypto.com to operate across the full spectrum of digital asset activity in the UAE, from exchange operations to real-world payment settlement.
The SVF grant lands amid a broader acceleration of digital finance infrastructure in the UAE. The CBUAE’s Digital Dirham CBDC project continues development, and a consortium including International Holding Company (IHC), ADQ, and First Abu Dhabi Bank launched the dirham-backed stablecoin DDSC—the first fully CBUAE-regulated stablecoin—which runs on ADI Chain. BNY, the world’s largest custodian, also recently announced a digital asset custody collaboration with Finstreet and ADI Foundation anchored in Abu Dhabi’s ADGM.
Crypto.com claims more than 140 million users globally. CRO, the platform’s native token, is currently trading around $0.093.
Also Read: BNY Partners With Finstreet and ADI to Launch Digital Asset Custody in Abu Dhabi
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