Hubpay Partners With Aquanow To Launch UAEs First Regulated Crypto Payments Facility For Businesses

The collaboration will allow businesses across various sectors, including real estate, manufacturing, and general trading, to accept cryptocurrency payments securely and seamlessly alongside traditional fiat transactions – and is seen as a major leap forward for digital finance in the country.

Aquanow ME FZE is regulated by Dubai’s Virtual Asset Regulatory Authority (VARA), and Hubpay is regulated by the Financial Service Regulatory Authority (FSRA), in the Abu Dhabi Global Market (ADGM).

Crypto payments for UAE businesses

By leveraging the powerful partnership Hubpay’s platform powered by Aquanow can offer regulated crypto payments for UAE businesses globally.

This partnership comes at a pivotal time, as the UAE cements its position as a global fintech and digital assets hub marking 42 percent year-on-year growth through cryptocurrency transactions.

By integrating Aquanow’s digital asset infrastructure with Hubpay’s regulated payment network, both local and global users can seamlessly transact in cryptocurrencies within a familiar payments environment.

Kevin Kilty, CEO and Founder of Hubpay, said the collaboration marks a significant milestone for the company as it expands its cross-border payment solutions across sectors.

“Stablecoins are a game-changer, combining the security of traditional currencies with the speed of digital assets.

“By integrating Aquanow’s infrastructure with our regulated network, we’re empowering businesses to transact seamlessly in both fiat and crypto, advancing the UAE’s agenda to drive economic diversification, foster fintech innovation, and position itself as a global hub for digital assets,” he said.

Phil Sham, CEO of Aquanow, said the company is excited to collaborate with Hubpay to bring real-world utility to digital assets in the MENA region.

“Cryptocurrency is no longer just an investment tool. It’s a practical, efficient means of conducting high-value transactions,” he said.

Sham said by integrating Aquanow’s technology with Hubpay’s regulated payments framework, the two will be removing friction from large-scale transactions for buyers, sellers, and investors alike.

One sector which will expect to benefit in a big way from this move is real estate, which has been experiencing unprecedented growth in the UAE.

As demand for flexible payment solutions increases, the ability to complete property transactions using cryptocurrencies will ensure fast settlement times, reduced transaction fees, and greater financial accessibility for international buyers, Hubpay said.

Beyond real estate, the implementation of a crypto payment gateway will enable SMEs to streamline cross-border payments, reduce transaction costs, and improve cash flow management by reducing settlement delays and minimising currency conversion fees.

This solution also allows SMEs to expand their customer base by catering to global markets that prefer digital assets.