Gulf Craft becomes first MENA shipyard to accept regulated crypto-to-fiat payments
'By integrating ARP Pay, Gulf Craft not only meets evolving client preferences but also strengthens the UAE's reputation for forward-looking manufacturing and financial innovation,' says Mohammed Hussein Alshaali, Chairman, Gulf Craft. 'The UAE was built on maritime trade and early adoption of new ideas. Embracing regulated digital payments is a natural next step.'
Developed with Bahrain-licensed fintech provider ARP Pay, the service converts stablecoins such as USDT and USDC into AED or USD. A recent pilot allowed a part of a yacht purchase price to be settled in cryptocurrency, cutting transaction costs and improving client satisfaction among international buyers.
'Adding a crypto option future-proofs our customer experience,' notes Erwin Bamps, Group CEO, Gulf Craft. 'We stay ahead of the curve by adopting technologies that shape tomorrow's commerce and by tapping into the growing segment of crypto holders who prefer paying with digital assets. Whether a client is taking delivery of a Majesty or Nomad yacht or purchasing any boat or power catamaran across our Oryx or SilverCAT ranges, they can now transact through a channel that is fast, transparent and fully compliant.'
The launch aligns with UAE's ambition to become the world's most crypto-friendly country, supported by VARA regulations, free-zone exchanges and a 24/7 fintech talent pool. Gulf Craft's new payment pathway will offer clients greater flexibility while further positioning the UAE at the forefront of maritime and financial innovation.
About Gulf Craft Group:
Gulf Craft Group is a prominent global entity with multiple companies under its umbrella in the yacht and boat manufacturing industry. Its portfolio includes Gulf Craft, Gulf Craft Maldives, and Superyacht Service Centre. Together, they deliver high-quality, personalised vessels for leisure and commercial pursuits to a diverse global clientele, along with exceptional service and support. At the heart of Gulf Craft Group is Gulf Craft, the parent brand that oversees prestigious names such as Majesty Yachts, Nomad Yachts, Oryx Cruisers, SilverCAT Boats, and Touring Passenger Vessels. These brands offer a wide range of yachts and boats, from 32 to 175 feet, embodying advanced technology, powerful engineering, timeless design, and world-class craftsmanship. Guided by visionary leadership and driven by a passionate global team, Gulf Craft continually pushes the boundaries of design and performance. This commitment is exemplified by the flagship Majesty 175, the world's largest composite-production superyacht. Since its founding in 1982, Gulf Craft has been at the forefront of innovation, solidifying its international presence through a robust dealership network. The Group operates state-of-the-art manufacturing and service facilities, including a 462,000 sq. ft shipyard in Umm Al Quwain and an additional facility in Ajman, UAE. Since 2002, Gulf Craft Maldives has also operated a 100,000 sq. ft manufacturing and servicing facility in the Maldives, with a brand new 800,000 sq. ft facility set to launch soon. To date, the company has built over 10,000 boats. Gulf Craft Group's unique integrated approach ensures comprehensive support and service for its customers worldwide, continually meeting and exceeding customer aspirations. www.gulfcraftgroup.com
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