Crypto.com Gets UAE SVF License for Government Payments

Crypto.com receives full SVF license in UAE

On 11 May 2026, the Central Bank of the UAE (CBUAE) granted a Stored Value Facilities (SVF) license to Foris DAX Middle East FZE. An SVF license authorises a company to hold and transfer stored monetary value on behalf of users. Foris DAX Middle East FZE is the UAE-registered entity of the global digital assets platform Crypto.com. The CBUAE is the federal authority that regulates payment services across the United Arab Emirates.

Dubai residents can pay government fees with crypto

The SVF license activates a partnership between Crypto.com and the Dubai Department of Finance. Under this partnership, residents in the UAE can pay government service fees using virtual assets through the Crypto.com platform. All financial settlements are conducted in UAE dirhams or CBUAE-approved dirham-backed stablecoins. A stablecoin is a digital token whose value is fixed to a traditional currency — in this case, the UAE dirham. Settlements use the SVF framework, which supports the Dubai Cashless Strategy, a government programme to reduce cash transactions across the emirate.

"We are now able to offer what no other digital asset platform can, by providing exclusive digital asset payment services for Dubai Government fees to residents in the UAE.", 11 May 2026. — Mohammed Al Hakim, President and GM UAE & Bahrain, Crypto.com

Crypto.com is the only VASP with this license

Crypto.com is the first and only Virtual Asset Service Provider (VASP) in the UAE to hold an SVF license. A VASP is a company that provides services involving digital assets such as cryptocurrency. Any user in the UAE who wants to make virtual asset payments for government fees must be registered on Crypto.com's platform. Crypto.com also holds a licence from the Virtual Assets Regulatory Authority (VARA), the Dubai regulator for digital assets, which issued this confirmation in January 2026.

Emirates Airlines and Dubai Duty Free are next

Following additional approvals from the CBUAE, the SVF license will allow Crypto.com to initiate crypto payment integrations with Emirates Airlines and Dubai Duty Free. These integrations have not yet received the required CBUAE approvals and are not active. Both partnerships are stated targets in Crypto.com's 11 May 2026 announcement.

Crypto.com holds regulatory approvals in multiple jurisdictions

On 23 February 2026, the US Office of the Comptroller of the Currency (OCC) issued Crypto.com conditional approval for a national trust bank charter. Conditional approval means the OCC has agreed in principle but has not yet issued a final licence. On 27 February 2026, Crypto.com's Malta entity received a Limited Financial Institutions licence from the Malta Financial Services Authority (MFSA) under the European Union's Markets in Crypto-Assets (MiCA) regulatory framework. MiCA is the EU law that sets standards for crypto-asset service providers operating across EU member states.