Crypto.com Expand Global Services With Dubai’s VARA License
Meanwhile, this strategic move underscores Crypto.com's commitment to catering to institutional investors in the Middle East region and further solidifying its position as a key player in the crypto market
Leading Singapore-based cryptocurrency exchange, Crypto.com, sets its sights on expanding its global footprint with a significant announcement. Notably, the exchange unveils the latest development that would allow it to broaden its services in Dubai, marking a pivotal moment in its expansion strategy.
Meanwhile, this strategic move underscores Crypto.com's commitment to catering to institutional investors in the Middle East region and further solidifying its position as a key player in the crypto market.
In a groundbreaking development, Crypto.com has secured full operational approval from Dubai's Virtual Assets Regulatory Authority (VARA), allowing the crypto exchange to cater to institutional investors as its inaugural offering in the region.
This operational green light follows the completion of pre-operational requirements outlined in the Virtual Asset Service Provider Licence granted to Crypto.com's Dubai entity, CRO DAX Middle East FZE, in November 2023. This marks the first instance of a global crypto operator achieving operational status with fiat in the UAE, highlighting Crypto.com's pioneering position in the market.
Additionally, Crypto.com is set to provide institutional clients and qualified retail investors with access to spot trading, staking brokerage, and other over-the-counter (OTC) offerings. Equipped with deep liquidity and a state-of-the-art matching engine, the crypto exchange is poised to deliver a seamless trading experience tailored to the needs of the Middle East market.
With plans for additional product launches in the pipeline, including the Crypto.com App and retail-focused offerings, Crypto.com aims to further enhance its presence and offerings in the UAE market.
