Crypto.com has secured a Stored Value Facilities license from the Central Bank of the United Arab Emirates, allowing residents to pay Dubai government fees using cryptocurrencies via its platform.
The approval activates the company's partnership with Dubai's Department of Finance, enabling digital asset payments for government services under the city's cashless payments strategy. Users can fund payments with digital assets while settlements are made in UAE dirhams or dirham-backed stablecoins.
The license also opens the door for future payment integrations with Emirates Airlines and Dubai Duty Free, though those services remain subject to further central bank approvals.
Crypto.com already holds a Virtual Asset Service Provider license from Dubai's VARA, and is expanding its regulated footprint globally, including MiCA licensing in Europe and conditional approval for a national trust bank charter in the United States.