From UAE judicial agencies to airlines, taxi service providers, gas stations and real estate investments in the near future, UAE government agencies and businesses employ crypto payments.
This is why it’s not surprising to see Gulf Craft, the global global builder of luxury yachts and leisure boats, and superyacht shipyards announce they will accept crypto payments for the UAE and Bahrain.
According to a press release, Gulf Craft is currently accepting regulated crypto payment solutions for yacht and leisure craft purchases, services and lifting operations.
The company is working with Bahrain licensed fintech provider ARP Pay to convert stub coins such as USDT and USDC into AED or USD currencies.
Gulf Craft Chairman Mohamed Hussein Al-Sharili said that by integrating ARP Pay, it not only fulfills client preferences, but also strengthens the UAE’s reputation for manufacturing and financial innovation.
He said, “The UAE was built on maritime trade and early adoption of new ideas. Accepting regulated digital payments is a natural next step.”
Recent pilots have resolved some of the yacht’s purchase prices with cryptocurrencies, reducing transaction costs and increasing client satisfaction among international buyers.
Erwin Bamps, group CEO of Gulf Crypto, said crypto payment options can keep ahead of the curve and take advantage of the growing segment of crypto owners who prefer to pay with digital assets.
He said, “Whether clients are delivering dignified or nomadic yachts, or purchasing boats or power catamarans across Orix or silver cat ranges, they are now able to pass through high speed, transparent, fully compliant channels.”
The UAE Judicial Department has recently accepted crypto for payments
Continuing its momentum to adopt stability and crypto as a payment method in the United Emirates, Abu Dhabi Judicial Bureau (adjd) has also partnered with Almaria Bank (MBANK) to introduce the use of digital currency to pay judicial and legal services fees.
Adjd is the first government agency in the Middle East to accept AED Stablecoin, AE Coin for payment of court-related transactions. AE Coin was the first AED Stablecoin licensed in the UAE.
Already, Dubai Ministry of Finance (DOF) is the government agency responsible for the budget, and its enforcement has been granted that the UAE regulates Crypto.com and signs a MOU (Memorandum) to allow Crypto payments for government fees.