Crypto.com received a UAE license enabling residents to pay Dubai government fees using crypto through its platform.
Crypto News
Crypto(dot)com has received a Stored Value Facilities (SVF) license from the Central Bank of the United Arab Emirates, enabling residents to pay Dubai government fees using cryptocurrencies through its platform. The company announced the approval on Monday.
The license covers Crypto(dot)com's local entity, Foris DAX Middle East FZE, and activates the company's existing partnership with Dubai's Department of Finance. Under that arrangement, users can fund transactions in digital assets while settlements are processed in UAE dirhams or central bank-approved dirham-backed stablecoins, in line with the SVF regulatory framework.
Subject to further approvals from the UAE central bank, Crypto(dot)com said the license could also support payment integrations with Emirates Airlines and Dubai Duty Free, extending the same digital-asset-to-dirham settlement model into commercial transactions. The company said those services are not yet active and remain contingent on additional regulatory sign-off.
The SVF license adds to Crypto(dot)com's existing regulatory presence in the UAE. The company already holds a Virtual Asset Service Provider license from Dubai's Virtual Assets Regulatory Authority, positioning it as one of the more heavily licensed exchanges operating in the emirate.
Outside the UAE, Crypto(dot)com has been expanding its regulatory footprint across multiple jurisdictions. The company secured authorization to operate under the European Union's Markets in Crypto-Assets regime and received conditional approval from the United States Office of the Comptroller of the Currency for a national trust bank charter, which would allow it to act as a qualified digital asset custodian.
The company is also entering event-based derivatives and prediction markets through a regulated US affiliate, broadening its product range alongside its payments and custody expansion. The moves reflect a strategy of pursuing tighter regulatory compliance across regions while simultaneously adding new product categories.
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