Crypto.com received a Stored Value Facilities license from the Central Bank of the UAE, becoming the first virtual asset service provider in the country approved to support crypto payments for government services.

The approval allows UAE residents to pay government service fees using digital assets through Crypto.com’s partnership with Dubai Finance. The platform will handle the payment layer, with settlements processed in UAE dirhams or Central Bank approved dirham-backed stablecoins.

The structure is designed to shield public agencies from crypto volatility. Residents can pay with supported digital assets, while government entities receive settlement through regulated fiat or approved stablecoin rails rather…