Crypto.com becomes first crypto firm licensed by UAE Central Bank
Email: oine@newsofbahrain.com
ABU DHABI: Crypto.com has achieved a regulatory milestone by becoming the first virtual asset provider to receive a Stored Value Facilities (SVF) license from the Central Bank of the UAE. This landmark approval officially integrates digital assets into the nation's regulated financial infrastructure.
The license enables a groundbreaking partnership with Dubai Finance, allowing UAE residents to pay government service fees using digital assets. To ensure financial stability, all transactions are settled in UAE dirhams or approved stablecoins.
This development paves the way for future crypto payment integrations with major entities like Emirates Airlines and Dubai Duty Free. By establishing this secure framework, the UAE reinforces its position as a global leader in the digital economy, bridging the gap between traditional finance and the future of digital payments.
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