Hubpay, a leading UAE-based cross-border payments platform, has partnered with Aquanow, a global digital asset infrastructure provider, to introduce the country’s first fully regulated cryptocurrency payment facility for businesses and SMEs. This initiative allows companies across various sectors, including real estate, manufacturing, and general trading, to accept cryptocurrency payments securely alongside traditional fiat transactions.
With Aquanow ME FZE regulated by Dubai’s Virtual Asset Regulatory Authority (VARA) and Hubpay overseen by the Financial Service Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM), the partnership ensures compliance while expanding access to digital financial solutions.
Bridging Traditional and Digital Finance
This collaboration arrives at a pivotal moment, as the UAE strengthens its position as a global fintech and digital assets hub. Cryptocurrency transactions in the country have grown by 42% year-on-year, highlighting the increasing demand for regulated payment solutions.
By integrating Aquanow’s digital asset infrastructure with Hubpay’s regulated network, businesses can now process cryptocurrency transactions seamlessly. This advancement creates a familiar payment environment that accommodates both local and international users.
Kevin Kilty, CEO and Founder of Hubpay, emphasized the significance of the partnership in expanding cross-border payment solutions.
“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.”
Phil Sham, CEO of Aquanow, echoed this sentiment, highlighting the practical applications of cryptocurrency.
“Cryptocurrency is no longer just an investment tool. It’s a practical, efficient means of conducting high-value transactions. By integrating Aquanow’s technology with Hubpay’s regulated payments framework, we’re removing friction from large-scale transactions for buyers, sellers, and investors alike.”
Transforming Real Estate and SME Payments
One industry set to benefit significantly is real estate, which continues to experience record growth in the UAE. The ability to complete property transactions using cryptocurrency will facilitate faster settlements, lower transaction fees, and increased accessibility for international buyers.
Beyond real estate, SMEs will also gain from this innovation. The crypto payment gateway will streamline cross-border transactions, minimize settlement delays, and reduce currency conversion costs. Moreover, businesses can expand their customer base by catering to global markets that prefer digital assets.
As demand for flexible payment solutions grows, this collaboration between Hubpay and Aquanow marks a crucial step in modernizing the UAE’s financial ecosystem. By bridging traditional and digital finance, the initiative paves the way for a more inclusive and efficient payments landscape.
