Crypto Giant Lands in Dubai, Targets Institutional Investors

Crypto Giant Lands in Dubai, Targets Institutional Investors

Cryptocurrency exchange Crypto.com has secured a vital permit from Dubai’s Virtual Assets Regulatory Authority (VARA), paving the way for its debut in the Middle Eastern nation. Notably, this launch will cater exclusively to institutional investors. The full operational approval signifies the culmination of a multi-stage process for Crypto.com. In June 2022, the exchange received provisional approval under VARA’s MVP (Minimum Viable Product) licensing program. This initial license […]

via Crypto Giant Lands in Dubai, Targets Institutional Investors

Cryptocurrency exchange Crypto.com has secured a vital permit from Dubai’s Virtual Assets Regulatory Authority (VARA), paving the way for its debut in the Middle Eastern nation. Notably, this launch will cater exclusively to institutional investors.

The full operational approval signifies the culmination of a multi-stage process for Crypto.com. In June 2022, the exchange received provisional approval under VARA’s MVP (Minimum Viable Product) licensing program. This initial license allowed Crypto.com to demonstrate its adherence to Dubai’s regulatory framework. Subsequently, in March 2023, Crypto.com was granted a preparatory license, signifying its progress in meeting VARA’s requirements.

The latest development marks a significant milestone for both Crypto.com and Dubai’s burgeoning cryptocurrency industry. Crypto.com becomes the first major global exchange to operate with fiat currency (traditional money) in the United Arab