Gulf Craft has introduced a regulated crypto payment system for yacht and leisure craft purchases, service and refit work.
The system has been implemented in partnership with ARP Pay, a Bahrain-licensed fintech provider, which enables conversion of stablecoins such as USDT and USDC into either AED or USD. A recent pilot involved the partial settlement of a yacht transaction in cryptocurrency. According to the company, using digital currencies can reduce transaction costs and improve satisfaction among international buyers.
Gulf Craft joins a range of other marine firms embracing digital payments. In March 2025, Bitcoin was used to buy a Greenline 45 Coupe, in a deal inked at boot Düsseldorf 2025. In 2022, Borrow a Boat started accepting cryptocurrencies as payment for yacht charters. Luxury yachting company Camper & Nicholsons also accepts cryptocurrencies as payment for all goods and services via BitPay, while superyacht brokerage firm Ocean Independence also offers clients the option of payment with cryptocurrencies.
“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, Gulf Craft chairman. “The UAE was built on maritime trade and early adoption of new ideas. Embracing regulated digital payments is a natural next step.”
Gulf Craft group chief executive Erwin Bamps adds: “Adding a crypto option future-proofs our customer experience. 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 initiative follows the UAE’s broader efforts to become a global leader in crypto regulation and adoption. Measures include the implementation of VARA regulations, development of free-zone exchanges and support for a round-the-clock fintech workforce.
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