In a significant advancement for digital finance, Hubpay, a prominent UAE-based cross-border payments platform, has teamed up with Aquanow, a global digital asset infrastructure provider, to launch the UAE’s first fully regulated crypto payments facility designed for businesses and SMEs. This partnership will enable businesses across various industries, including real estate, manufacturing, and general trading, to securely and seamlessly accept cryptocurrency payments alongside traditional fiat transactions.
Aquanow ME FZE is regulated by Dubai’s Virtual Asset Regulatory Authority, and Hubpay is regulated by the Financial Service Regulatory Authority (“FSRA”), in the Abu Dhabi Global Market. By leveraging the powerful partnership, Hubpay's platform powered by Aquanow can offer regulated crypto payments for UAE businesses globally.
This partnership arrives at a crucial moment as the UAE solidifies its role as a global fintech and digital assets hub, experiencing a 42% year-on-year growth in cryptocurrency transactions. By combining Aquanow's digital asset infrastructure with Hubpay's regulated payment network, both local and international users will be able to seamlessly make cryptocurrency transactions within a familiar payment environment.
Speaking on the partnership, Kevin Kilty, CEO and Founder of Hubpay added, "We are thrilled to partner with Aquanow to launch the UAE’s first fully regulated crypto payment gateway for businesses. This collaboration marks a significant milestone for Hubpay as we expand our 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".
“We’re excited to collaborate with Hubpay to bring real-world utility to digital assets in the MENA region,” said Phil Sham, CEO of Aquanow. “Cryptocurrency is no longer just an investment tool. It’s a practical, efficient means of conducting high-value transactions. By integrating our technology with Hubpay’s regulated payments framework, we are removing friction from large-scale transactions for buyers, sellers, and investors alike”.