Gulf Craft Becomes First MENA Shipyard to Accept Legal Crypto for Luxury Yacht Payments

Post by : Ramanpreet Kaur

Gulf Craft, the UAE’s premier yacht and boat builder, has made history as the first shipyard in the Middle East and North Africa (MENA) to accept regulated cryptocurrency payments, marking a major turning point in the maritime transport and luxury vessel sector.

This new offering allows clients to buy yachts, schedule servicing, or carry out refit work using stablecoins like USDT and USDC, which can legally be converted into AED or USD. The move underscores Gulf Craft’s ongoing commitment to technological innovation and supports the UAE’s growing status as a global leader in digital finance.

Developed with ARP Pay for Full Compliance

The crypto payment system was launched in partnership with ARP Pay, a Bahrain-based licensed fintech firm. The system is built for full compliance with UAE financial laws, enabling customers to make fast, high-value transactions with lower fees and greater privacy.

Mohammed Hussein Alshaali, Chairman of Gulf Craft, said:
“By using ARP Pay, we’re offering what today’s customers want while showing that the UAE is leading in both boat building and financial innovation. This country has always embraced progress. Accepting digital payments is simply the next step.”

Creating a Seamless Luxury Buying Experience

In a recent pilot transaction, part of a luxury yacht purchase was made through cryptocurrency — leading to reduced costs and a faster process. Gulf Craft now accepts crypto for all its premium brands: Majesty Yachts, Nomad Yachts, Oryx Cruisers, and SilverCAT Boats.

Erwin Bamps, Group CEO, added:
“Crypto payments help us stay ahead. It’s faster, safer, and appeals to clients who already use digital assets in their daily lives.”

Aligning with the UAE’s Vision for Smart Finance

Gulf Craft’s move fits seamlessly with the UAE’s strategic vision to become a world leader in blockchain and crypto innovation. Backed by VARA regulations, dedicated crypto zones, and advanced fintech capabilities, the UAE is reshaping how global transactions are conducted.

By integrating digital payments into the shipbuilding industry, Gulf Craft shows how even traditional transport sectors can embrace the future — responsibly and boldly.

About Gulf Craft

Established in 1982, Gulf Craft Group has delivered over 10,000 vessels worldwide, with operations in Umm Al Quwain, Ajman, and the Maldives. The group includes Gulf Craft UAE, Gulf Craft Maldives, and the Superyacht Service Centre. Its renowned brands include:

• Majesty Yachts
• Nomad Yachts
• Oryx Cruisers
• SilverCAT Boats
• Touring Passenger Vessels

Notable for building the Majesty 175, the world’s largest composite superyacht, Gulf Craft remains a symbol of innovation, design excellence, and now — digital finance integration.

Armust Insight

Gulf Craft’s adoption of regulated crypto payments is a milestone not just for the UAE, but for the global maritime industry. This shows how luxury transport and shipbuilding can evolve to meet the needs of a digital-first world while staying fully compliant. As transportation continues to blend with fintech, Gulf Craft positions itself at the helm of this transformation.

luxury transport, uae shipyard