Crypto.com has announced it is the first virtual asset service provider in the UAE to receive this license.

The license transitions Crypto.com from its previous in-principle approval stage to a licensed framework for providing payment services based on "Stored Value." crypto.news reported in October 2025 that the company had received in-principle approval for the same SVF license, with final issuance contingent upon technical reviews and compliance requirements.

Dubai government fee payments move a step closer to cryptocurrency integration

The license allows Crypto.com to activate its collaboration with the Dubai Department of Finance. Under the plan, UAE residents will be able to pay for Dubai government services through Crypto.com’s regulated platform using virtual assets.

Crypto.com stated that all settlements under the SVF regulatory framework will be conducted in UAE Dirhams or Dirham-based stablecoins approved by the Central Bank of the UAE. This ensures that government entities receive settlements in the local currency, while users can initiate payments using supported digital assets.

The company also noted that users intending to use the service must undergo identity verification and onboarding through its VARA-licensed platform. According to Crypto.com, it is currently the only virtual asset service provider in the UAE to have secured an SVF license.

Crypto.com described the license as a milestone in meeting legal and compliance requirements. Eric Anziani, President and COO of Crypto.com, stated that the license demonstrates the company’s strong commitment to regulatory compliance. This comment reflects the company’s own position and has not been independently verified in the announcement.

Emirates and Dubai Duty Free may integrate crypto payments

Crypto.com announced that the license may also pave the way for integrating crypto payments with Emirates airline and Dubai Duty Free, subject to necessary approvals from the Central Bank of the UAE.

Emirates airline signed a Memorandum of Understanding with Crypto.com in July 2025 to explore the addition of Crypto.com Pay to its payment systems.

This development aligns with Dubai’s broader strategy to reduce cash usage. The Cashless Dubai strategy aims for cashless transactions in both the public and private sectors to reach 90% by 2026. crypto.news previously reported on the broader scope of Dubai’s digital asset initiatives, including payments, tokenized assets, and regulated crypto products.