Crypto.com Secures UAE SVF License to Expand Payment and Digital Wallet Services

Crypto.com has secured a Stored Value Facility (SVF) license from the Central Bank of the UAE (CBUAE), enabling the platform to expand its financial product suite to include digital wallets and payment solutions. The license allows the company to facilitate fiat-linked transactions and issue stored value products directly within the Emirates. Expansion of Payment Services The SVF license is a regulatory requirement for entities managing digital funds used for payments. With this approval, Crypto.com can now offer services such as prepaid cards and digital wallets that allow users to hold and spend funds. This move shifts the company’s operations beyond virtual asset trading into the broader retail and commercial payment sector. This development follows the firm’s previous regulatory milestones in the region. Crypto.com’s Dubai entity, CRO DAX Middle East FZE, already holds a Virtual Asset Service Provider (VASP) license from the Virtual Assets Regulatory Authority (VARA). While the VASP license covers exchange and brokerage services in Dubai, the CBUAE-issued SVF license provides a federal framework for payment-related financial activities across all seven emirates. Regulatory…