Article Summary

**Crypto.com Secures UAE License to Launch AED Stablecoin Payment Services** Crypto.com has achieved a major regulatory milestone in the Middle East, receiving In-Principle Approval (IPA) from the Central Bank of the UAE (CBUAE) for a Stored Value Facilities (SVF) license. This groundbreaking approval positions the leading cryptocurrency exchange to offer digital payment services using UAE Dirham-backed stablecoins for Dubai government fee payments. The SVF license represents a significant step forward for blockchain adoption in the UAE's financial ecosystem, enabling seamless integration between traditional banking and decentralized finance (DeFi) solutions. Foris DAX Middle East, operating under the Crypto.com brand, will facilitate transactions using both UAE Dirham and AED-pegged stablecoins, bridging the gap between conventional fiat currencies and digital assets. This regulatory approval strengthens the UAE's position as a progressive cryptocurrency hub, following Dubai's recent blockchain initiatives and Bitcoin-friendly policies. The move could accelerate institutional adoption of digital currencies in government services, potentially influencing other Middle Eastern markets to embrace similar cryptocurrency payment solutions. Crypto.com's expansion into UAE government payments demonstrates growing mainstream acceptance of stablecoin technology in traditional financial infrastructure.