Wu said that Crypto.com announced that its UAE entity, Foris DAX Middle East FZE, has been granted a license for a stored value facility by the Central Bank of the United Arab Emirates, becoming the first virtual asset service provider in the UAE to receive this license. Crypto.com will initiate a partnership with the Dubai Ministry of Finance to allow UAE residents to pay government fees using virtual assets, with settlements conducted in UAE Dirhams or stablecoins supported by Dirhams approved by the central bank. After obtaining the necessary approvals, Crypto.com will also launch crypto payment integrations with Emirates Airlines and Dubai Duty-Free.

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