Crypto.com Wins UAE License to Enable Crypto Payments for Government Services

The Central Bank of the United Arab Emirates has granted a Stored Value Facilities (SVF) licence to Crypto.com, enabling users in the UAE to pay Dubai government service charges directly through the platform using cryptocurrency.

With this approval, users will be able to top up their Crypto.com accounts and make payments using digital assets. Transactions will ultimately be settled in UAE dirhams or in dirham-pegged stablecoins, in accordance with the SVF regulatory framework.

Source: Crypto.com