United Arab Emirates luxury yacht manufacturer Gulf Craft has partnered with payment processor ARP Pay to begin accepting stablecoin payments. Customers can now use Tether (USDT) and USD Coin (USDC) for purchases.
ARP Pay will instantly convert these stablecoin transactions into either UAE dirhams or US dollars, ensuring Gulf Craft receives traditional currency settlement. This move streamlines the payment process for buyers choosing digital assets.
Chairman Mohamed Hussein Alshaali stated the integration aligns with both the nation’s maritime heritage and its proactive economic vision targeting digital transformation. He emphasized that accepting digital currencies represents a natural evolution in transaction methods.
Gulf Craft’s decision reflects a broader trend of cryptocurrency integration across key UAE sectors, including legal services and finance. It strategically positions the luxury yacht builder to meet the rising demand from affluent buyers who increasingly prefer using digital assets for high-value transactions.
This initiative further cements the UAE’s status as a forward-thinking financial hub actively embracing the potential of blockchain technology for efficient, innovative payment solutions.