Crypto.com has secured a Stored Value Facilities license from the Central Bank of the UAE, a move that allows the company to enable crypto payments for Dubai government fees.
The company’s UAE entity, Foris DAX Middle East FZE, received the license, making it the first Virtual Asset Service Provider in the Emirates to hold such approval, according to a statement from Crypto.com. The license transitions the company from an earlier in-principle status, which crypto.news reported in October 2025, to a fully licensed setup for stored-value payment services.
Dubai government fees go crypto
With the license, Crypto.com can now activate its partnership with the Dubai Department of Finance. The plan allows UAE residents to pay Dubai government fees using virtual assets through Crypto.com’s regulated platform. All settlements will happen in UAE dirhams or dirham-backed stablecoins approved by the Central Bank, under the SVF framework, the company said. This means government entities receive local currency, while users start with supported digital assets.
Users must be onboarded through Crypto.com’s VARA-licensed platform to access the service. The company claims it is the only VASP with an SVF license in the UAE at the time of the announcement.
Eric Anziani, President and COO of Crypto.com, said the license demonstrates a “strong commitment to compliance.” That statement reflects the company’s view and has not been independently verified.
Emirates and Dubai Duty Free could be next
Crypto.com said the license may also allow it to start crypto payment integrations with Emirates Airlines and Dubai Duty Free, pending additional approvals from the Central Bank. Emirates signed a memorandum of understanding with Crypto.com in July 2025 to explore adding Crypto.com Pay to its payment systems.
The development aligns with Dubai’s broader cashless strategy, which aims for 90% cashless transactions across government and private sectors by 2026. Dubai has been pushing digital asset adoption, including payments, tokenized assets, and regulated crypto products.
