UAE Embraces Crypto Payments: Gulf Craft Joins Government Bodies in Digital Asset Adoption

The United Arab Emirates (UAE) is rapidly cementing its reputation as a global hub for digital assets, with a growing number of governmental entities and businesses, from judiciary bodies to airlines, taxi services, and gas stations, embracing cryptocurrency payments. The latest to join this progressive movement is Gulf Craft, a leading global builder of luxury yachts, leisure boats, and superyachts, which has announced it will now accept crypto payments in both the UAE and Bahrain.

Gulf Craft Navigates Towards Digital Payments

As per its press release, Gulf Craft is now accepting regulated crypto payment solutions for a wide range of services, including yacht and leisure craft purchases, as well as service and refit works. To facilitate these transactions, the company is collaborating with ARP Pay, a Bahrain-licensed fintech provider, which will convert stablecoins such as USDT and USDC into AED or USD currency.

Mohamed Hussein Alshaali, Chairman of Gulf Craft, highlighted the strategic importance of this integration: “The UAE was built on maritime trade and early adoption of new ideas. Embracing regulated digital payments is a natural next step.” He noted that by integrating ARP Pay, Gulf Craft is not only catering to evolving client preferences but also reinforcing the UAE’s standing in manufacturing and financial innovation.

A recent pilot program showcased the efficiency of this new payment method, allowing a portion of a yacht purchase price to be settled in cryptocurrency. This pilot successfully reduced transaction costs and enhanced client satisfaction, particularly among international buyers.

Erwin Bamps, Group CEO of Gulf Craft, emphasized that offering crypto payment options keeps the company "ahead of the curve" and allows them to tap into a 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," Bamps explained.

Broader UAE Adoption Momentum

Gulf Craft's announcement builds on the significant momentum of stablecoin and crypto adoption across the UAE.

• Abu Dhabi Judicial Department (ADJD): Recently, the ADJD partnered with Al Maryah Bank (MBANK) to enable the use of digital currency for the payment of judicial and legal service fees. Notably, the ADJD became the first governmental entity in the Middle East to accept an AED stablecoin, AE Coin, for court-related transactions. AE Coin was the first AED stablecoin to be licensed in the UAE.
• Dubai Department of Finance (DOF): The DOF, responsible for Dubai's budget, signed a Memorandum of Understanding (MOU) with UAE-regulated Crypto.com to facilitate crypto payments for governmental fees.

These initiatives underscore the UAE's proactive approach to integrating digital assets into its economy, positioning itself as a global leader in the evolving landscape of digital finance.

July 2025, Cryptoniteuae