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Crypto.com’s UAE unit wins CBUAE SVF license for Dubai government crypto payments
Crypto.com said Monday that its UAE entity, Foris DAX Middle East FZE, obtained a Stored Value Facilities (SVF) license from the Central Bank of the UAE, enabling digital asset payments for Dubai government services. The exchange said it is the first VASP in the country with this approval, with transactions settling in UAE dirhams or CBUAE-approved dirham-backed stablecoins under Dubai’s plan to digitize more than 90% of payments by 2026.