Gulf Craft Adopts Crypto Payments for Luxury Yachts as UAE Advances Digital Finance Goals

Abu Dhabi-based Gulf Craft, a leading manufacturer of luxury yachts and superyachts, has announced the adoption of cryptocurrency payments for its services, marking a significant step in the United Arab Emirates’ (UAE) digital finance evolution. The company, which operates shipyards across the UAE and Bahrain, will now accept regulated crypto solutions for yacht purchases, maintenance, and refit work, converting stablecoins like USDT and USDC into AED or USD via a partnership with Bahrain-licensed fintech firm ARP Pay. This move aligns with the UAE’s broader strategy to integrate digital assets into its economic framework, reflecting the nation’s ambition to solidify its position as a global hub for blockchain innovation and financial technology.

The initiative follows a pilot program that allowed clients to partially settle yacht purchase prices in cryptocurrency, reducing transaction costs and enhancing client satisfaction for international buyers. Gulf Craft’s decision underscores the growing acceptance of digital currencies in high-value industries, where speed, transparency, and regulatory compliance are critical. The company’s chairman, Mohamed Hussein Alshaali, emphasized that the integration of crypto payments aligns with the UAE’s historical role as a maritime trade leader and its commitment to pioneering new technologies. “The UAE was built on maritime trade and early adoption of new ideas. Embracing regulated digital payments is a natural next step,” he stated, highlighting the synergy between the nation’s economic heritage and modern financial innovation.

Collaborating with ARP Pay, Gulf Craft ensures that crypto transactions comply with UAE regulations, addressing concerns around financial transparency and anti-money laundering (AML) standards. The partnership enables seamless conversion of stablecoins into fiat currency, mitigating risks associated with price volatility while offering clients a secure and efficient payment channel. Erwin Bamps, Group CEO of Gulf Craft, noted that the shift caters to a rising segment of crypto holders who prefer digital assets for high-value transactions. “Clients can now transact through a channel that is fast, transparent, and fully compliant, whether purchasing a Majesty yacht or a SilverCAT power catamaran,” he said, underscoring the company’s focus on meeting evolving market demands.

The UAE’s regulatory environment has played a pivotal role in fostering this transition. Recent developments, including the Abu Dhabi Judicial Department’s (ADJD) adoption of AED-backed stablecoins for court fees and the Dubai Department of Finance’s collaboration with Crypto.com, illustrate the government’s proactive approach to integrating digital currencies. These initiatives collectively position the UAE as a testbed for blockchain-based solutions, attracting global businesses seeking a jurisdiction that balances innovation with oversight. By extending crypto payment options to luxury goods and services, Gulf Craft is capitalizing on the UAE’s strategic positioning to appeal to a tech-savvy demographic of investors and buyers.

The move also signals a maturation of the crypto market, particularly in sectors previously hesitant to adopt digital assets. While volatility and regulatory uncertainty have historically limited crypto’s use in high-stakes transactions, the UAE’s structured approach—prioritizing regulated platforms and stablecoins—provides a model for other economies. Gulf Craft’s adoption of crypto payments not only streamlines operations for its clients but also reinforces the UAE’s reputation as a bridge between traditional finance and emerging technologies. As the nation continues to attract blockchain-native enterprises and talent, its regulatory framework is likely to serve as a benchmark for jurisdictions navigating the complexities of digital asset integration.

This development aligns with the UAE’s broader vision to create a future-ready economy. By supporting businesses that embrace crypto, the government reinforces its role as a leader in financial innovation, potentially accelerating the adoption of digital currencies across diverse industries. For Gulf Craft, the shift represents a strategic response to market trends, enabling the company to compete in a global market where digital transactions are becoming increasingly normalized. As the crypto landscape evolves, the UAE’s progressive stance is poised to shape the trajectory of digital finance, demonstrating how traditional sectors can adapt to the demands of a decentralized economy while maintaining compliance and trust.