Cryptocom has announced that its UAE entity, Foris DAX Middle East FZE, has received a stored value facility license from the UAE Central Bank. This makes Cryptocom the first virtual asset service provider in the UAE to obtain such a license. The company plans to collaborate with the Dubai Department of Finance to enable UAE residents to pay government fees using virtual assets, with settlements in UAE Dirhams or a Central Bank-approved Dirham-backed stablecoin. Upon receiving necessary approvals, Cryptocom will also integrate crypto payments with Emirates Airlines and Dubai Duty Free.