Hubpay, a UAE-based cross-border payments platform, has partnered with Aquanow, a digital asset infrastructure provider, to introduce a regulated cryptocurrency payment solution for businesses and SMEs in the UAE. This partnership enables companies in various sectors, including real estate, manufacturing, and general trading, to accept cryptocurrency payments alongside traditional fiat transactions.
Aquanow ME FZE operates under Dubai’s Virtual Asset Regulatory Authority (VARA), while Hubpay is regulated by the Financial Services Regulatory Authority (FSRA) in Abu Dhabi Global Market (ADGM). The collaboration is set to provide businesses with a regulated framework for integrating crypto transactions into their payment operations.
A Step Toward Digital Payment Expansion
The UAE has seen rapid growth in digital asset adoption, with cryptocurrency transactions increasing significantly. By combining Aquanow’s infrastructure with Hubpay’s regulated payment network, the initiative aims to simplify crypto payments for businesses, allowing them to integrate digital assets within an existing payment system.
Kevin Kilty, CEO and Founder of Hubpay, stated: “This collaboration with Aquanow allows us to expand our cross-border payment solutions and introduce regulated crypto payments to businesses in the UAE. Stablecoins offer transaction efficiency while maintaining the reliability of traditional currencies. By integrating Aquanow’s technology with our regulated network, we aim to provide businesses with a seamless transition into digital asset payments.”
Phil Sham, CEO of Aquanow, added: “Partnering with Hubpay enables us to introduce practical use cases for digital assets in the region. Cryptocurrency is becoming more than an investment tool—it is evolving into a payment method for high-value transactions. Through this integration, we are streamlining transactions for businesses and investors alike.”
Potential Benefits for Real Estate and SMEs
The real estate sector, which continues to see high transaction volumes in the UAE, could benefit from crypto payments by offering buyers an additional method for property transactions. With resale property profits reaching approximately $16.33 billion in 2024, the ability to settle transactions in digital assets may help facilitate faster payments while reducing costs.
For SMEs, the integration of a regulated crypto payment gateway may help optimize cross-border transactions, reduce fees, and improve cash flow by minimizing settlement delays. Additionally, businesses seeking to expand their customer base could benefit from offering digital asset payment options to global markets. As the UAE strengthens its position in digital finance, regulated payment solutions may play a role in shaping how businesses adopt cryptocurrency in a compliant and secure manner
