UAE Gulf craft accepts stablecoin payments for yachts and boats

UAE Gulf craft accepts stablecoin payments for yachts and boats

UAE based Gulf Craft, a shipyard conglomerate which builds yachts and boats, has joined multiple array of governmental and private businesses in the UAE offering crypto payments using stablecoins. The company announced that it now offers fully regulated payment solution for yacht and leisure craft purchases, service and refit works using the services of Bahrain based company ARP Pay.

As per the press release, the crypto payment solution developed by ARP Pay converts stablecoins such as USDT and USDC into AED or USD. The recent pilot allowed part of a yacht price to be purchased and settled in cryptocurrency. This cut transaction costs while improving customer satisfaction.

“By integrating ARP Pay, Gulf Craft not only meets evolving client preferences but also strengthens the UAE’s reputation for forward-looking manufacturing and financial innovation,” says Mohammed Hussein Alshaali, Chairman, Gulf Craft. “The UAE was built on maritime trade and early adoption of new ideas. Embracing regulated digital payments is a natural next step.”

“Adding a crypto option future-proofs our customer experience,” notes Erwin Bamps, Group CEO, Gulf Craft. “We stay ahead of the curve by adopting technologies that shape tomorrow’s commerce and by tapping into the growing segment of crypto holders who prefer paying with digital assets. Whether a client is taking delivery of a Majesty or Nomad yacht or purchasing any boat or power catamaran across our Oryx or SilverCAT ranges, they can now transact through a channel that is fast, transparent and fully compliant.”

More and more entities within the UAE are moving towards allowing crypto payments, whether it is the Abu Dhabi Judicial Department, the Abu Dhabi taxi service provider, gas stations, or even Dubai’s Finance Department all have either started or are getting ready to offer crypto payments.

Already UAE ranks top in the world for crypto adoption with 30% of its residents holding crypto. With increased utilization of crypto this number most likely will increase.

Abu Dhabi Judiciary becomes first in MENA to accept stablecoin payments

Abu Dhabi Judiciary becomes first in MENA to accept stablecoin payments

The Abu Dhabi Judicial Department (ADJD) has become the first governmental judiciary entity in MENA to accept stablecoins as a form of digital payments for judicial and legal service fees. With Al Maryah Bank, known as Mbank, ADJD will be using the AED regulated stablecoin AE Coin as a payment means for court related transactions.

As per the press release, ADJD believes this is a milestone towards a fully integrated digital economy and sets the stage for a new era in digital government payments as part of a digitized government.

His Excellency Counsellor Yousef Saeed Al Abri, Undersecretary of the Abu Dhabi Judicial Department, stated that the agreement forms part of the department’s broader development strategy and aligns with the vision of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President of the UAE, Deputy Prime Minister, Chairman of the Presidential Court, Chairman of ADJD, to build a modern and innovative judicial system that embraces rapid digital transformation to ensure swift justice and enhance Abu Dhabi’s global competitiveness.

He added, “By diversifying smart payment options and embracing digital currency, we are supporting institutional cooperation and integrating the judicial and financial sectors through advanced technology.” He added that the department is keen on building strategic partnerships with leading banking institutions to maximise the use of digital capabilities and fintech innovations in support of ADJD’s vision for a progressive and responsive legal environment.

From the banking sector’s side, Omar Al Zaabi, Vice Chairman of Al Maryah Bank, commented: “By enabling judicial payments via AE Coin, we are not only streamlining access to government services but also setting a benchmark for how technology can serve the public good in a secure and future-ready manner.”

Mohammed Wassim Khayata, CEO of Al Maryah Bank, also explained, “It’s not merely a technological step; it’s about delivering advanced, secure financial experiences that reflect the UAE’s values and future vision.”

Ramez Rafiq, General Manager of IED Stablecoin, the firm behind AE Coin, believes that AE Coin was developed to be a secure, efficient, and regulatory-compliant digital payment solution tailored for the UAE. he noted, “Its adoption by such a prominent government entity marks a pivotal moment for us and the region’s evolving digital finance landscape.”

AE Coin has already been adopted by airlines, and taxi service providers in the UAE. Prior to this the Abu Dhabi transport Department and Municipalities under the Integrated Transport Center (ITC) of the Department of Municipalities and Transport, Tawasul Transport, allowed passengers to use the AE Coin stablecoin. Additionally Air Arabia airline also started accepting the AED stablecoin, AE Coin, for payments such as flight booking. The airline is the first in MENA to offer a stablecoin based payment option. Users can book their flights using the AEC Wallet application developed by MBank.

Dubai Department of Finance (DOF) , the governmental entity responsible for budget and its execution also signed an MOU with UAE regulated Crypto.com to allow crypto payments for governmental fees.

This comes as the UAE Central Bank regulated AED stablecoins in the UAE, considering them as a legal form of payment.

Tokenize Xchange leaves Singapore and seeks license in UAE

Tokenize Xchange leaves Singapore and seeks license in UAE

Crypto exchange platform Tokenize Xchange which was operating from Singapore announced that it will discontinue these operations and lay off the 15 employees in the country, and is currently seeking a license in the UAE through Abu Dhabi ADGM.

The exchange was not provided with a digital payment token license by the Monetary Authority of Singapore (MAS) under the Singapore’s Payment Services Act. This comes as Singapore cracks down on crypto licensing, as it proposed updates to its framework for digital token service providers making its more stricter in terms of compliance.

At the moment, Tokenize is moving its base of operations to Labuan, a Malaysian offshore financial centre. It is working towards acquiring a licensed entity regulated by the Labuan Financial Services Authority, with the process targeted for completion by 30 September. The exchange is also exploring expansion into the Middle East through regulatory approvals from Abu Dhabi Global Market (ADGM), the financial free zone in the UAE capital.

CEO and founder Hong Qi Yu framed the shift as a chance to consolidate international operations and grow the platform’s reach outside of Singapore. The decision to withdraw from Singapore comes a little over a year after Tokenize secured US$11.5 million in funding. At the time, it had announced plans to scale its Singapore team to 100 employees, aiming to strengthen its ability to navigate Southeast Asia’s diverse regulatory regimes.

Crypto.com keeps adding crypto payment partners in UAE, latest Emirates Airlines

Crypto.com keeps adding crypto payment partners in UAE, latest Emirates Airlines

After signing up with Emarat Energy, Dubai Land Department, and Dubai Duty Free, Crypto.com has signed a deal with Emirates Airlines to allow its customers to make crypto payments using crypto.com’s exchange services.

The partnership, which is expected to come into effect next year, is aimed at tapping into “younger, tech-savvy customer segments who prefer digital currencies”, Adnan Kazim, Emirates’ deputy president and chief commercial officer, said in a statement.

Earlier in the year, Air Arabia announced that it would be allowing AED stablecoin payments using the AE Coin, as did Abu Dhabi taxi service.

The agreement today signed in the presence of His Highness Sheikh Ahmed bin Saeed Al Maktoum, chairman and chief executive of Emirates Airline & Group, and Michael Doersam, Emirates’ chief financial & group services officer, by Adnan Kazim, Emirates’ deputy president and chief commercial officer, along with Mohammed Al Hakim, president of Crypto.com’s UAE operations will offer more diverse digital asset payment services.

Adnan Kazim, Emirates Deputy President and CCO stated, “Partnering with Crypto.com to integrate cryptocurrency into our digital payments system reflects Emirates’ commitment to meeting evolving customer preferences, in addition to tapping into younger, tech-savvy customer segments who prefer digital currencies.”

“We’re delighted to complete the signing of this important MoU with Emirates Airline. As we continue to expand the everyday use case for crypto, integration with exceptional partners such as Emirates will bring real momentum to the digital asset industry and enable both companies to offer genuine innovative finance solutions for our customers. We look forward to working together as we continue to build our crypto offering in the GCC,” said Eric Anziani, president and COO of Crypto.com.

Jordan now allows crypto payments, trading and investments

Jordan now allows crypto payments, trading and investments

Jordan has passed its virtual asset regulations which will become applicable within the next 90 days. The law covers what is considered as virtual assets, what virtual asset service providers are allowed to be licensed as well as all the related AML and KYC requirements.

Law No 14 of 2025, notes that virtual assets can be used for payments, investments, and more. It also notes that VASPs can be licensed as crypto exchanges, crypto payment providers as well as crypto custodians.

The law does not cover digital securities, and digital financial assets which will be subject to their own regulations. It also does not cover CBDCs ( Central Bank Digital Currency) which will be issued by Jordan’s Central Bank

In its Article 4-L the law discusses how virtual assets will operate and managed by virtual asset platforms. It also discusses the exchange between virtual assets and Jordanian or foreign currency, the exchange between virtual assets and other virtual assets, the transfer of virtual assets from one address to another, the nature of virtual assets and their management, including the tools that enable
the price of Providing brokerage services in virtual asset trading operations and participating in and providing related financial services to issuers of virtual assets.

Talal Tabaa, a Jordanian national and Co-Founder and CEO of CoinMENA, noted on LinkedIn, ” With the passing of Law No. 14 of 2025, Jordan now has an official legal framework for virtual assets — marking a pivotal moment in the country’s journey toward financial innovation. More importantly, it signals a clear commitment to responsible growth.”

He gives full credit to the Central Bank of Jordan, the Jordan Securities Commission, and the Prime Minister Office for leading this effort. He also mentions their proactive consultation with the industry before finalizing the law set a strong example of collaborative policymaking.

He adds, ” By embracing this emerging asset class, Jordan is laying the groundwork to strengthen its financial ecosystem, attract fintech innovation and global investment and enhance consumer protection and trust. As a proud Jordanian and crypto entrepreneur, I believe this law will be a catalyst for building a more dynamic and inclusive financial future.”

In May 2025, The Jordanian Senate Finance and Economic Committee, chaired by Senator Rajai Muasher, approved the Virtual Assets Regulation Bill of 2025 on Monday, as received from the House of Representatives. This came during a meeting attended by Minister of State for Economic Affairs Muhannad Shehadeh, Minister of State for Legal Affairs Dr. Fayyad Qudah, Minister of State for Digital Economy and Entrepreneurship Eng. Sami Smeirat, Deputy Governor of the Central Bank Ziad Ghanma, Chairman of the Board of Commissioners of the Jordan Securities Commission Dr. Adel Bino, and Head of the Anti-Money Laundering and Terrorism Financing Unit Samia Al-Sharif.

Prior to this in January 2025, The Jordanian government Cabinet, chaired by Prime Minister Jafar Hassan, approved the establishment of a comprehensive regulatory framework for virtual and digital assets within one year. The initiative aims to align with global standards and foster a robust digital economy in Jordan.

According to Statistica, the projected revenue in the crypto market for Jordan is estimated to reach US$29.4m in 2025 while the number of crypto users in Jordan is expected to reach 894.75k users by 2026. The user penetration rate is projected to be 7.36% in 2025 and is expected to rise to 7.72% by 2026.


Dubai’s Grand Millenium Hotel and Bybit to offer perks the exchange’s customers

Dubai’s Grand Millenium Hotel and Bybit to offer perks the exchange’s customers

Grand Millennium Hotel Dubai signed a partnership with Bybit, the world’s second-largest cryptocurrency exchange to offer Bybit clients savings and rewards at the hotel in addition to exclusive privelages. It also makes Grand Millennium Hotel Dubai Bybit’s first-ever hotel partner. 

The official signing ceremony was attended by Helen Liu, COO & Partner of Bybit, Sheikh Almualla bin Ahmed Almualla & Feras Al Sadek of Ghaf Group, and Giacomo Puntel, General Manager of Grand Millennium Hotel Dubai.

This strategic alliance enables Bybit cardholders to unlock up to 30 percent in savings across Grand Millennium Hotel Dubai’s standout offerings. Guests can now enjoy exclusive privileges at signature venues including Belgian Beer Café, Toshi Pan Asian Restaurant, Lucky Voice Dubai, Crystal Bar, and Juzz Bar. The benefits also extend to hotel room suites and serviced apartments, meeting and event spaces, and expert catering services, making everyday moments more rewarding for Bybit’s tech-savvy global community.

“This partnership is a signal of where the future of travel and lifestyle is headed,” said Giacomo Puntel, General Manager of Grand Millennium Hotel Dubai. “As the first hotel brand in the region to join forces with Bybit, we are proud to be part of a digital evolution that places accessibility, innovation, and guest experience at the heart of everything we do.”

The collaboration represents a major leap forward in integrating cryptocurrency into real-world travel, making everyday luxuries more attainable for Bybit’s tech-forward community. Whether booking a weekend staycation, planning a corporate gathering, or heading out for a night of exceptional dining and entertainment, Bybit users will find Grand Millennium Hotel Dubai more connected, convenient, and future-ready than ever before.

“Bybit is on a mission to integrate crypto payments into every spending and daily luxuries for our community.UAE Dubai is one of the most popular destinations for entrepreneurs and crypto fans, and this partnership reflects our commitment to supporting them throughout their crypto journeys around the world,” said Helen Liu, COO & Partner of Bybit.

The Bybit Card boasts year-round offers including exclusive travels, early access to premium events, and an expanding network of global partners. The digital-native crypto and fiat card is one of the fastest growing payment solutions of its kind with over 1.7 million cards issued worldwideworld wide. 

The benefits are reserved for Grand Millennium Hotel Dubai guests who use their Bybit Card for eligible payments at the hotel only. 

Dubai Government allows crypto payments for government fees with Crypto.com

Dubai Government allows crypto payments for government fees with Crypto.com

Dubai Department of Finance (DOF) , the governmental entity responsible for budget and its execution has signed an MOU ( Memorandum of Understanding) with UAE regulated Crypto.com to allow crypto payments for governmental fees.

The Memorandum of Understanding was signed at the Dubai FinTech Summit in the presence of senior officials. Once the system is activated, individuals and businesses will be able to use Crypto.com’s digital wallet to pay for government services.

The platform will convert crypto payments into AED Fiat currency and securely transfer the funds to Dubai Finance accounts. As per the announcement the move supports the Dubai Cashless Strategy, which aims to boost the local economy and strengthen Dubai’s position as a global leader in financial innovation and digital transformation.

Just last week, Crypto.com and Emarat gas stations also signed an agreement to allow for crypto payments at gas stations in the UAE.

While Eric Trump noted that they would accept crypto for Trump Towers project in the UAE, as well as noting that the World Liberty Financial USD stablecoin (USD1) is the stablecoin that will be used for the UAE MGX Binance deal.

Crypto.com teams up with UAE Emarat Energy company to offer crypto payments

Crypto.com teams up with UAE Emarat Energy company to offer crypto payments

Crypto.com exchange, a regulated crypto exchange operating out of Dubai UAE, has partnered with Emarat Energy Company to offer crypto payment options at select Emarat service stations. As per the LinkedIn post the expansion depends on regulatory approvals and customer demand.

Emarat runs more than 155 service stations across the UAE. The setup of crypto fuel stations signals a shift towards new payment methods. This aligns with industry moves toward contactless payments and better customer service. Emarat hopes to modernize its retail model and appeal to tech-savvy consumers. It also aims to boost its image among digitally aware customers.


The partnership will see Crypto.com integrated at an initial 10 service stations, with plans to progressively expand the integration across the Emarat service station network.

Additionally, through Project Landmark—the first project providing naming rights for fuel stations in the world by Emarat, Crypto.com and Emarat will unveil the Crypto.com Emarat Service Station at Emarat’s Al Ameen Station in Al Wasl Road, a signature service station branded by Crypto.com and supported by the Crypto.com integration.

“Further enabling the utility of cryptocurrency is central to our vision at Crypto.com,” said Mohammed al Hakim, President of Crypto.com UAE. “The UAE is a cryptocurrency market leader, and we are excited to partner with Emarat, the region’s leading petroleum brand and serving tens of thousands of customers every day, in bringing digital assets into its next era.”

Ali Bin Zayed Al Falasi, Chief Retail Officer & Senior Vice President – Marketing at Emarat, said, “At Emarat, we are constantly exploring new frontiers in innovation and customer experience. This partnership with Crypto.com introduces a new era of convenience and possibility for our customers, while strengthening our position as a future-focused brand. Together, we’re bridging the gap between energy retail and emerging financial ecosystems.”

Crypto.com users and Emarat customers will be able to enjoy additional benefits of the partnership, having exclusive offers and a mutual promotional program to uplift customers’ experience.

The UAE has been at the forefront of Blockchain and crypto, with many real estate developers offering crypto payments and most recently one of the biggest investments in the UAE, the $2 billion investment into Binance being carried out using a stablecoin.

Abu Dhabi ADI Blockchain to operate AED stablecoin for FAB Bank and ADQ

Abu Dhabi ADI Blockchain to operate AED stablecoin for FAB Bank and ADQ

The stablecoin race has started among the banking sector in the UAE, and the first AED stablecoin to be developed by an Abu Dhabi Blockchain is in the process. ADI Blockchain Foundation will be developing an AED stablecoin to be issued by First Abu Dhabi Bank, with the support of ADQ a sovereign investor and IHC an investor as well.

The trio intend to launch a UAE Central Bank regulated AED stablecoin that will be used for making payments not only in the UAE but also internationally. Moreover the stablecoin will also be used for Machine to machine payments in the IoT domain and AI one.

Abu Dhabi based ADI Blockchain will operate the stablecoin

The ADI Foundation a non-profit organization dedicated to helping governments connect with trusted partners to advance digital transformation and blockchain adoption worldwide, leverages its $120 million fund and a global network of partners to deliver blockchain solutions that enhance trust, transparency, and efficiency in key sectors such as healthcare, financial systems, sustainability, and governance.

The new stablecoin will operate on the ADI blockchain. Guillaume de La Tour, CEO of ADI Foundation, commented: “This stablecoin marks a pivotal milestone in the UAE’s journey toward a more inclusive and digitally empowered economy. By leveraging the ADI blockchain, we are enabling secure, transparent, and efficient transactions at scale — built on technology developed right here in the UAE. The ADI Foundation is proud to support this visionary initiative that aligns with our mission to advance sustainable digital transformation around the world.”‍

‍H.E. Mohamed Hassan Alsuwaidi, Managing Director and Group CEO of ADQ, said, “The launch of stablecoin marks a pivotal step in our commitment to strengthening the UAE’s digital infrastructure ecosystem. As we move forward towards an increasingly digital and connected economy, stablecoin will provide a solution that is secure, efficient and scalable, while creating new opportunities for growth and value creation.”‍

Syed Basar Shueb, CEO of IHC, added that IHC will bring their blockchain and fintech expertise. While Hana Al Rostamani, Group Chief Executive Officer of FAB, affirmed that the new stablecoin will make a significant impact across industries and revolutionize blockchain payments for UAE consumers and businesses.

This will not be the first regulated AED stablecoin issued by a banking entity. Mbank through its subsidiary AE Coin has already launched a regulated AED stablecoin.

Additionally in August 2024, Tether, announced in the UAE its plans to add a new Dirham backed stablecoin in collaboration with UAE’s Phoenix Group, a Web3 investor and Bitcoin mining conglomerate.

Binance payment service company BPay receives license in Bahrain

Binance payment service company BPay receives license in Bahrain

The Central Bank of Bahrain (CBB) has granted BPay Global B.S.C.(c) (BPay Global), a Binance Group payment services company, a Payment Service Provider (PSP) license to operate in the Kingdom of Bahrain. Binance customers will be able to top up and withdraw on an e-wallet fiat currency, as well as custody their fiat and crypto and make payments.

As per the press release, the PSP license will allow BPAY to offer fiat services to Binance customers globally, including fiat top ups and withdrawals, custody and other payment services. This will enable Binance customers to open an e-wallet and make fiat top ups on the Binance platform through bank transfers and debit/credit card payments. The license will also allow BPay Global to custody fiat on behalf of customers.

Commenting on this announcement, Mr. Abdulla Haji, Director of Licensing Directorate at CBB, said “We are pleased to announce the issuance of a license to a new payment service provider in Bahrain. This license represents a positive step in enhancing Bahrain’s digital payments ecosystem, particularly in its support for crypto-related sector as well as fiat payment solutions. The CBB remains committed to enabling a dynamic and progressive payment landscape that aligns with global advancements in financial technology.”

Mr. Tameem Almoosawi, General Manager of Binance Bahrain and BPay Global, commented: “We are glad to announce the launch of BPay Global and the first Payment Service Provider license received by a Binance company, allowing it to act as a payment service provider and e-wallet provider for users around the world. With this license, BPay Global will provide Binance users with further choice of low-cost fiat on- and off-ramps.”

Binance had previously received a license from the Central Bank of Bahrain back in 2023 and was able to offer crypto payments through Binance Pay.