Dubai, UAE – In a move that underscores the UAE’s growing embrace of digital currency, Gulf Craft—a renowned global manufacturer of luxury yachts and superyachts—has announced it is now accepting cryptocurrency payments for purchases and services in both the UAE and Bahrain.
The shipbuilding giant has partnered with Bahrain-based fintech firm ARP Pay to enable crypto transactions using regulated stablecoins such as USDT and USDC. These digital assets are seamlessly converted into AED or USD, offering customers a secure and compliant payment option.
According to the official statement, the new payment channel applies to a wide range of Gulf Craft’s offerings, from yacht and leisure craft purchases to service and refit operations. The company’s decision reflects a broader shift across UAE industries, where government bodies and private enterprises alike are increasingly integrating blockchain-based payment solutions.
“Embracing Innovation Is in Our DNA”
Gulf Craft Chairman Mohamed Hussein Alshaali emphasized the historical roots of the UAE in maritime trade and its forward-thinking ethos.
“The UAE was built on maritime trade and early adoption of new ideas,” Alshaali said. “Embracing regulated digital payments is a natural next step.”
By working with ARP Pay, Gulf Craft aims to enhance customer convenience, particularly for international clients, while further solidifying the UAE’s reputation as a hub for both industrial and financial innovation.
A recent pilot project successfully allowed a portion of a yacht’s purchase price to be settled in cryptocurrency, reportedly lowering transaction costs and improving client satisfaction.
Expanding Opportunities for Crypto Holders
Erwin Bamps, Group CEO of Gulf Craft, noted that offering crypto payment options places the company at the forefront of industry trends. He highlighted that buyers of Majesty or Nomad yachts—as well as boats across the Oryx and SilverCAT ranges—can now choose a transaction method that is fast, transparent, and fully compliant.
“This positions us to serve a growing demographic of crypto holders who prefer digital assets as their primary mode of transaction,” Bamps added.
Broader Crypto Momentum in the UAE
Gulf Craft’s announcement comes as part of a larger trend in the UAE, where digital payments are rapidly gaining ground across sectors.
Earlier this year, the Abu Dhabi Judicial Department (ADJD) made headlines as the first government entity in the Middle East to accept stablecoin payments. In partnership with Al Maryah Bank (MBANK), ADJD now allows legal and judicial service fees to be paid using AE Coin, the first UAE dirham-backed stablecoin to receive regulatory approval.
Similarly, the Dubai Department of Finance (DOF) has signed an MoU with Crypto.com, paving the way for crypto payments for a wide array of governmental fees.
From public services to private luxury purchases, the UAE is steadily positioning itself as a global leader in regulated crypto adoption—demonstrating that digital currency is no longer a future concept, but a present-day reality.
As Gulf Craft leads the charge in the maritime sector, its integration of crypto payments may set a precedent for other luxury and high-value industries across the region.
