Crypto.com secures full operational license in Dubai

Crypto.com has obtained full operational approval from the Virtual Assets Regulatory Authority (VARA), the regulatory body that oversees virtual assets in Dubai.
Dot
April 11, 2024
Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

TABLE OF CONTENTS
Kris Marszalek; Photo Source: Crypto.com (Youtube)
As noted by Eric Anziani, President and COO at Crypto.com, “We are thrilled to expand our presence and offering in the UAE with the support of VARA.”

Crypto.com has obtained full operational approval from the Virtual Assets Regulatory Authority (VARA), the regulatory body that oversees virtual assets in Dubai. This makes Crypto.com the first crypto exchange to receive authorization to operate in fiat currencies in the UAE.

According to the official blog post, the Singapore-based firm seeks to launch an exchange that caters to its institutional clientele as the “first operational milestone” after receiving the license. The platform will offer staking brokerage, spot trading, and other Over-The-Counter services to its institutional investors and certain retail clients who meet the necessary qualifications to trade on the exchange.   



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The announcement came almost two years after Crypto.com initiated the process to receive the operational permit in Dubai. In June 2022, the firm completed the first stage of the three-step authorization procedure by securing the initial provisional license from VARA. By March 2023, Crypto.com had received the preparatory license, before acquiring the Virtual Assets Service Provider (VASP) license in November.

Crypto.com secures full operational license in Dubai

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Contents
Kris Marszalek; Photo Source: Crypto.com (Youtube)
As noted by Eric Anziani, President and COO at Crypto.com, “We are thrilled to expand our presence and offering in the UAE with the support of VARA.”

Crypto.com has obtained full operational approval from the Virtual Assets Regulatory Authority (VARA), the regulatory body that oversees virtual assets in Dubai. This makes Crypto.com the first crypto exchange to receive authorization to operate in fiat currencies in the UAE.

According to the official blog post, the Singapore-based firm seeks to launch an exchange that caters to its institutional clientele as the “first operational milestone” after receiving the license. The platform will offer staking brokerage, spot trading, and other Over-The-Counter services to its institutional investors and certain retail clients who meet the necessary qualifications to trade on the exchange.   



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


The announcement came almost two years after Crypto.com initiated the process to receive the operational permit in Dubai. In June 2022, the firm completed the first stage of the three-step authorization procedure by securing the initial provisional license from VARA. By March 2023, Crypto.com had received the preparatory license, before acquiring the Virtual Assets Service Provider (VASP) license in November.

Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

As noted by Eric Anziani, President and COO at Crypto.com, “We are thrilled to expand our presence and offering in the UAE with the support of VARA.”

Crypto.com has obtained full operational approval from the Virtual Assets Regulatory Authority (VARA), the regulatory body that oversees virtual assets in Dubai. This makes Crypto.com the first crypto exchange to receive authorization to operate in fiat currencies in the UAE.

According to the official blog post, the Singapore-based firm seeks to launch an exchange that caters to its institutional clientele as the “first operational milestone” after receiving the license. The platform will offer staking brokerage, spot trading, and other Over-The-Counter services to its institutional investors and certain retail clients who meet the necessary qualifications to trade on the exchange.   



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


The announcement came almost two years after Crypto.com initiated the process to receive the operational permit in Dubai. In June 2022, the firm completed the first stage of the three-step authorization procedure by securing the initial provisional license from VARA. By March 2023, Crypto.com had received the preparatory license, before acquiring the Virtual Assets Service Provider (VASP) license in November.

Written by
Ayush Pande