The UAE has taken another major step toward becoming a global digital finance hub after Crypto.com became the first cryptocurrency platform to receive a Stored Value Facilities (SVF) licence from the Central Bank of the UAE.
The licence was granted to the company’s regional entity, Foris DAX Middle East FZE, allowing the platform to offer regulated digital asset payment services across the Emirates. The approval is a landmark moment for the country’s crypto industry because it places virtual asset payments directly within the UAE’s regulated financial system.
