Crypto.com receives a full Stored Value Facilities license from the UAE Central Bank, enabling crypto payments for government services.
The SVF license allows for settlement in UAE dirhams or approved stablecoins, shielding public finances from crypto volatility.
Financial transactions will be conducted through Crypto.com’s platform, supporting Dubai’s Cashless Strategy and its goal of 90% cashless transactions.
Crypto.com has become the first Virtual Asset Service Provider in the UAE to receive a full Stored Value Facilities (SVF) license from the Central Bank of the UAE, a milestone that activates crypto payments for Dubai government services and unlocks pending integrations with Emirates Airlines and Dubai Duty Free.
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