Crypto.com wins UAE central bank license to let residents pay government bills with crypto
Crypto Briefing
Crypto.com has secured a UAE central bank license, allowing Dubai residents to pay government fees using digital assets.Summary
Crypto.com has become the first digital asset platform to receive a Stored Value Facilities (SVF) license from the Central Bank of the UAE. This milestone enables the company to facilitate government fee payments in Dubai, supporting the emirate's cashless strategy. To maintain financial stability, all crypto payments are converted into UAE dirhams or approved stablecoins, ensuring the government does not hold volatile assets. Looking ahead, Crypto.com plans to expand its services to include partnerships with Emirates Airlines and Dubai Duty Free.
(Source：Crypto Briefing)