Crypto.com acquires VASP license for its Dubai subsidiary

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Kris Marszalek; Photo Source: Crypto.com (Youtube)
In the words of Kris Marszalek, the CEO of Crypto.com, “Dubai continues to show it is a leading market when designing effective regulation for the crypto space while still supporting adoption and innovation.”

CRO DAX Middle East FZE, the Dubai entity of Crypto.com, has received a Virtual Assets Service Provider (VASP) license from the Virtual Assets Regulatory Authority (VARA), the agency responsible for the supervision of crypto assets in the emirate of Dubai.

As outlined by VARA’s regulatory framework, securing a VASP application is a three-step process where crypto firms must acquire a provisional permit and a preparatory license before they can be entitled to an operational VASP license. 



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Earlier this year, Crypto.com received a preparatory license from VARA and the Singapore-based exchange is currently in the final stage of the approval process. Following operational approval, Crypto.com will be authorized to offer exchange services, broker-dealer facilities, and borrowing and lending products centered around cryptocurrencies to Dubai-based clients. 

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn
In the words of Kris Marszalek, the CEO of Crypto.com, “Dubai continues to show it is a leading market when designing effective regulation for the crypto space while still supporting adoption and innovation.”

CRO DAX Middle East FZE, the Dubai entity of Crypto.com, has received a Virtual Assets Service Provider (VASP) license from the Virtual Assets Regulatory Authority (VARA), the agency responsible for the supervision of crypto assets in the emirate of Dubai.

As outlined by VARA’s regulatory framework, securing a VASP application is a three-step process where crypto firms must acquire a provisional permit and a preparatory license before they can be entitled to an operational VASP license. 



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


Earlier this year, Crypto.com received a preparatory license from VARA and the Singapore-based exchange is currently in the final stage of the approval process. Following operational approval, Crypto.com will be authorized to offer exchange services, broker-dealer facilities, and borrowing and lending products centered around cryptocurrencies to Dubai-based clients. 

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn
Written by
Ayush Pande