Payment Token Issuer Licence (Dirham Payment Tokens) (United Arab Emirates)
The Payment Token Issuer Licence (Dirham Payment Tokens) is issued by Central Bank of the UAE (CBUAE) under Payment Token Services Regulation (Circular No. 2/2024). The official CBUAE register listed 1 holder in June 2025. The legal decision period is 60 working days from the date of meeting all licensing conditions and requirements. Ownership changes need the regulator's approval before completion.
At a glance
| Official name | Payment Token Issuer Licence (Dirham Payment Tokens)1 |
|---|---|
| Also known as | CBUAE payment token issuer licence · UAE dirham stablecoin issuer licence · UAE payment token licence · Dirham payment token issuer · PTSR licence |
| Issued by | Central Bank of the UAE |
| Jurisdiction | United Arab Emirates |
| Licence family | Stablecoin / e-money token issuer |
| Legal basis | Payment Token Services Regulation (Circular No. 2/2024)1 |
| Passporting | Domestic only |
| Statutory decision time | 60 working days from the date of meeting all licensing conditions and requirements2 |
| Public register | official register3 |
| Current holders | 1 (June 2025 CBUAE register)3 |
What it lets you do
| Issuing e-money tokens | Offering to the public, or seeking admission to trading of, a token that references the value of a single official currency. |
|---|---|
| Issuing asset-referenced tokens | Offering to the public, or seeking admission to trading of, a token that stabilises its value by referencing other assets or a basket of currencies. |
Where it is valid
How long it takes
Statutory: 60 working days from the date of meeting all licensing conditions and requirements2. Observed: not published. The statutory clock usually starts only when the regulator treats the application as complete, and pauses while it waits for answers to its questions.
Buying a company that already holds it
Prior approval required. Under Article 120 of Federal Decree-Law No. (6) of 2025, no person may acquire, transfer, or increase a controlling interest in a Licensed Financial Institution without obtaining prior written approval from the CBUAE. Controlling interest thresholds are established at 10% of shares or voting rights for Payment Token Service Providers (PTSR Circular 2/2024 Art. 1.17) and 20% for Retail Payment Service Providers (RPSCS Circular 15/2021 Art. 1 and Art. 8), or any holding conferring de facto control or board appointment rights. Unauthorised acquisitions are legally void, empowering the CBUAE to revoke voting rights and mandate the forced disposal of excess shares.2
Ready-made companies holding this licence: see verified positions.
EMT/ART in other countries
| Country | Licence | Regulator | Min. capital | Application fee | Statutory time |
|---|---|---|---|---|---|
| Luxembourg | Electronic money token issuer authorisation / notificationElectronic money token issuer authorisation / notification under MiCA Regulation | CSSF | n/a | EUR 5,000 | n/a |
| Netherlands | Asset-referenced token (ART) issuer licenceAsset-referenced token (ART) issuer licence under EU MiCA | DNB | n/a | EUR 10,000 | ~7.9 mo |
| Netherlands | E-money token (EMT) issuer notificationE-money token (EMT) issuer notification under EU MiCA | DNB | n/a | EUR 3,200 | n/a |
| Spain | MiCA EMT and ART token issuer authorization | BdE | n/a | n/a | n/a |
| United Arab Emirates | Payment Token Issuer Licence (Dirham Payment Tokens) | CBUAE | n/a | n/a | ~2.8 mo |
Values come from each licence's page, where every figure has its source.
Sources
- rulebook.centralbank.ae: 5731 · retrieved 2026-09-24
- rulebook.centralbank.ae: 6185 · retrieved 2026-09-24
- centralbank.ae: cb register june 2025 (PDF) · retrieved 2026-09-24
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