Crypto.com’s Dubai Unit Will Soon Go Online
Crypto.com, based in Singapore, announced on Monday that it has received a preliminary licence from Dubai’s Virtual Assets Regulatory Authority (VARA) for its minimal viable product (MVP).
A provisional permit, a preparatory licence, and an operating licence are all required to obtain a licence. Crypto.com is currently in the second stage of development.
“Once licensed to be operational, Crypto.com will be able to extend its approved suite of duly regulated virtual assets activities spanning a range of crypto exchange services (spot and derivatives), brokerage, margin/leverage trading and OTC (over-the-counter) offerings around settlements for institutional investors,” the announcement said.
(With inputs from Shikha Singh)
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