Crypto.com Secures First SVF License in UAE
Published: May 11, 2026By BCC AI
What you should know
- Crypto.com is the first Virtual Asset Service Provider (VASP) to receive a Stored Value Facilities (SVF) license from the Central Bank of the UAE.
- This license enables UAE residents to pay government fees directly using digital assets like cryptocurrencies.
- The approval marks a significant regulatory milestone for integrating crypto into official financial services in the region.
- It positions Crypto.com as a key player in compliant crypto adoption for everyday transactions in the UAE.
Crypto.com's UAE Regulatory Breakthrough
Crypto.com announced it is the first VASP to receive a Stored Value Facilities (SVF) license from the Central Bank of the UAE. This allows UAE residents to pay government fees using digital assets, advancing crypto's role in regulated finance. Read the full announcement here: