2024

United

April

Dubai

Crypto.com disclosed today that its Dubai entity, CRO DAX Middle East FZE, has <a href="https://crypto.com/company-news/crypto-coms-dubai-entity-receives-full-operational-approval" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">gained</a> full operational approval from Dubai’s Virtual Assets Regulatory Authority (VARA), and it will launch the Crypto.com Exchange available to institutional investors, which is the company’s first operational milestone.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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 We're excited to announce our full operational approval from Dubai’s Virtual Assets Regulatory Authority <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1e6-1f1ea.png" alt="🇦🇪" class="wp-smiley" style="height: 1em; max-height: 1em;"> Crypto․com Exchange will be available for institutional investors as our first launch in the region <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f64c.png" alt="🙌" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/6ZhHDdzPcT" target="_blank" data-wpel-link="external" rel="noopener noreferrer nofollow">pic.twitter.com/6ZhHDdzPcT</a>— Crypto.com (@cryptocom) <a href="https://twitter.com/cryptocom/status/1777568445392920726?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">April 9, 2024</a>
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This operational approval represents the first time a global cryptocurrency operator will be operating in the United Arab Emirates using fiat money. Crypto.com completed the pre-operational requirements outlined in the Virtual Asset Service Provider license <a href="https://www.cryptotimes.io/2023/11/14/crypto-com-secures-key-license-in-dubai-for-exchange-services/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">given to CRO DAX Middle East FZE</a> in November 2023,&nbsp;
The Crypto.com Exchange, which has deep liquidity and a cutting-edge matching engine, is accessible to institutional clients and qualified retail investors. It provides spot trading, staking brokerage, and other OTC offerings around settlements for specific markets.
With this achievement, Crypto.com has also announced plans to launch more in-market products, such as the Crypto.com App and other retail-user-focused products, which are hoped to launch in the upcoming months.
President and Chief Operating Officer of Crypto.com, Eric Anziani, stated, “We are thrilled to expand our presence and offering in the UAE with the support of VARA. Launching with our world-class Crypto.com Exchange institutional services will be fundamental to our continued growth and success in such a key market for our company.”
“We are incredibly supportive of the steps Dubai is taking to progress the crypto industry, both in-market and abroad,” stated Stuart Isted, General Manager, Middle East and Africa of Crypto.com.&nbsp;
Stuart further stated that this is only the start, and the company is eager to collaborate closely with VARA to responsibly and successfully develop the industry going forward.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also Read: <a href="https://www.cryptotimes.io/2024/04/02/crypto-com-enters-south-korea-post-exchange-acquisition/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Crypto.com enters South Korea post-exchange acquisition</a>
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Crypto.com’s Dubai Entity Acquires Full Operational Approval

The Crypto Times

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