hubpay, aquanow launch regulates crypto payments in the UAE

HubPay, a cross-border payments platform based in the United Arab Emirates, has partnered with digital asset infrastructure provider Aquanow to launch a regulated cryptocurrency payment facility for businesses in the Middle East.

Collaboration bolsters the ambitions of the UAE’s digital asset hub

HubPay, a United-Arab Emirates-based cross-border payments platform, has partnered with digital asset infrastructure provider Aquanow to launch a regulated cryptocurrency payment facility tailored to businesses and small and medium-sized businesses (SMEs) operating in countries in the Middle East. This collaboration will allow companies operating domestically to accept cryptocurrency payments along with Fiat currency.

According to the statement, both entities are regulated: Aquanow by the Virtual Asset Regulatory Authority (VARA) in Dubai and HubPay by the Financial Services Regulatory Authority of the Abu Dhabi World Market (FSRA). Hubpay CEO and founder Kevin Kilty praised the collaboration and said he is moving forward with the UAE’s goal of becoming a hub for digital assets.

“This collaboration is an important milestone for Hubpay in expanding cross-border payment solutions across sectors. Stablecoins is a game changer, combining traditional currency security with the speed of digital assets. By integrating Aquanow’s infrastructure with a regulated network, it enables businesses to trade seamlessly across both Fiat and Cryptocurrency. It drives economic diversification, drives fintech innovation and positions the UAE agenda as a global hub for digital assets,” says Kilty.

Aquanow CEO Phil Sham said that integration with Hubpay’s regulated payment framework will help remove friction from large transactions for buyers, sellers and investors by making cryptocurrencies a practical and efficient way to carry out high-value transactions.

According to a statement announcing the collaboration, the real estate sector is expected to make a great profit through reduced transaction fees, rapid settlement times and improved financial accessibility for international buyers. Implementing cryptocurrency payment gateways is also expected to reduce transaction costs and minimize currency conversion fees.