Gulf Craft Group becomes first MENA shipyard to accept crypto payment

The Umm Al Quwain-based Gulf Craft Group, a prominent global entity in the yacht and boat manufacturing industry, has become the first MENA shipyard to accept regulated crypto payments for yacht and leisure craft purchases, service and refit works.

Developed in collaboration with Bahrain-licensed fintech provider ARP Pay, the service enables the conversion of stablecoins, including USDT and USDC, into AED or USD. A recent pilot allowed a portion of a yacht’s purchase price to be settled in cryptocurrency, reducing transaction costs and enhancing client satisfaction among international buyers.

Gulf Craft accepts crypto payments

Mohammed Hussein Alshaali, Chairman, Gulf Craft, said the move reinforces both the shipyard’s appetite for innovation and the UAE’s growing stature as a global hub for digital assets.

“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,” Alshaali said. “The UAE was built on maritime trade and early adoption of new ideas. Embracing regulated digital payments is a natural next step.”

Erwin Bamps, Group CEO, Gulf Craft, added: “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 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.

Founded in 1982, Gulf Craft operates a 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. Since 2002, Gulf Craft Maldives has also operated a 100,000 sq. ft manufacturing and servicing facility in the country. To date, the company has built over 10,000 boats.