Dubai has taken another step toward expanding digital finance by allowing cryptocurrency payments for government services through a new partnership with Crypto.com. The development follows the company’s approval for a Stored Value Facilities (SVF) license from the Central Bank of the United Arab Emirates, enabling residents in Dubai to pay official service fees using digital assets through Crypto.com’s platform.
The authorization applies to Crypto.com’s Dubai-based entity, Foris DAX Middle East FZE, and activates its collaboration with the Dubai Department of Finance. Under the system, users can fund transactions with cryptocurrencies, while payments are converted into UAE dirhams or approved dirham-backed stablecoins for settlement within the country’s regulated financial framework.
The move supports Dubai’s broader strategy to accelerate cashless transactions and strengthen its position as a global blockchain and fintech hub. Officials say the initiative combines innovation with regulatory oversight, allowing digital asset payments to be integrated into public services while maintaining compliance with UAE financial regulations.
The approval also expands Crypto.com’s regulatory footprint in the UAE, adding to its existing license from Dubai’s Virtual Assets Regulatory Authority. Future integrations with major Dubai-linked services, including Emirates and Dubai Duty Free, could also be explored pending additional approvals.
