Crypto.com has received a full operating license in Dubai
Crypto.com has received a historic full operating license from Dubai Vara. The license enables fiat operations in the UAE crypto landscape. Crypto.com can now accommodate institutional investors, offering a variety of services including spot trading and stocks.
Leading global crypto exchange Crypto.com marks a major milestone in its expansion efforts by receiving full operational license from the Dubai Virtual Assets Regulatory Authority (VARA).
We are delighted to announce that we have received a full operating license from the Dubai Virtual Assets Regulatory Authority 🇦🇪
Crypto.com exchange will be our first launch in the region for institutional investors 🙌 pic.twitter.com/6ZhHDdzPcT
— Crypto.com (@cryptocom) April 9, 2024
Crypto.com is the first crypto exchange in the United Arab Emirates (UAE) to operate on fiat currency, so its approval is a historic moment.
Crypto.com operations in Dubai
VARA has granted Crypto.com a full operating license to enable the exchange to cater to institutional and qualified investors in Dubai. With this license, Crypto.com can provide a comprehensive range of services tailored to the needs of its customers, including spot trading, brokerage, staking and over-the-counter (OTC) offerings.
The development underscores Crypto.com's commitment to regulatory compliance and expanding its presence in key markets.
Eric Anziani, Chief Operating Officer of Crypto.com, expressed the importance of launching institutional services in Dubai and emphasized its role in driving the company's growth and success in the region.
Completing the rigorous four-step process outlined by VARA demonstrates Crypto.com's regulatory standards and readiness to navigate the complex UAE financial sector.
Crypto.com is poised to capitalize on Dubai's growing market.
As the UAE strives to modernize its financial ecosystem through the adoption of cryptocurrencies, VARA's role in establishing a progressive regulatory framework will be significant.
By anchoring its operations in Dubai, Crypto.com is well positioned to tap into the region's growing market and contribute to the growth of the borderless digital economy.
Crypto.com's expansion initiatives extend beyond Dubai, with plans for additional product launches and regulatory approvals in various jurisdictions.
With over 50 million users worldwide, Crypto.com continues to strengthen its position as the leading platform in the crypto industry, using innovative solutions to meet the needs of investors around the world.
