Today, Crypto.com announced that its Dubai branch, CRO DAX Middle East FZE, has received complete approval from Dubai’s Virtual Assets Regulatory Authority (VARA) to operate. This marks a significant achievement for the company as it prepares to introduce the Crypto.com Exchange, which is open to institutional investors, marking Crypto.com’s first operational milestone in Dubai.
The Dubai Virtual Assets Regulatory Authority has given us their green light for full operation, which we are thrilled to share with you! Crypto.com Exchange is set to debut in the region, catering specifically to institutional investors. 😊
— Crypto.com (@cryptocom) April 9, 2024
For the first time, a major cryptocurrency company, Crypto.com, has gained approval to conduct operations in the United Arab Emirates using traditional currency. The necessary preparations for this venture were finished in November 2023, following the issuance of a Virtual Asset Service Provider license to CRO DAX Middle East FZE.
Institutional clients and qualified investors have access to the advanced Crypto.com Exchange, featuring rich liquidity and a superior matching system. This platform offers spot trading, staking services, and other over-the-counter (OTC) dealings tailored to particular markets during settlement.
After reaching this milestone, Crypto.com intends to introduce additional offerings for the market, including the Crypto.com App and other consumer-oriented products. These new products are anticipated to be released within the next few months.
Eric Anziani, President and COO of Crypto.com, expressed his excitement about increasing our business in the UAE with VARA’s help. Our premier institutional services on Crypto.com Exchange will play a significant role in our continued growth and achievement in this crucial market for our company.
“Stuart Isted, General Manager of Crypto.com for the Middle East and Africa, expressed strong enthusiasm for Dubai’s advancements in promoting the crypto industry, whether locally or internationally.”
Stuart added that this is just the beginning, and the company looks forward to working closely with VARA to develop the industry in a responsible and successful manner.
Read More
- BODEN PREDICTION. BODEN cryptocurrency
- GHST PREDICTION. GHST cryptocurrency
- BETA PREDICTION. BETA cryptocurrency
- STRD PREDICTION. STRD cryptocurrency
- Mango Markets Exploiter Found Guilty Of Fraud And Manipulation
- GBP EUR PREDICTION
- MATIC PREDICTION. MATIC cryptocurrency
- LOOKS PREDICTION. LOOKS cryptocurrency
- BRN/USD
- TNSR PREDICTION. TNSR cryptocurrency
2024-04-09 10:28