Crypto.com Receives Full Operational License from VARA
Crypto operator Crypto.com has proudly announced its attainment of a full operational license from Dubai’s Virtual Assets Regulatory Authority (VARA) on April 3, 2024.
This milestone marks a pioneering achievement for Crypto.com, as it becomes the premier global crypto operator to secure operational status with fiat capabilities in the United Arab Emirates (UAE).
The scope of Crypto.com’s licensure encompasses a diverse range of activities, including exchange services, broker-dealer services, management and investment services, as well as lending and borrowing services. This license highlights the commitment of Crypto.com towards providing a robust and versatile platform to cater to the evolving needs of its clientele.
Of notable significance is the authorization granted to Crypto.com to serve a broad spectrum of investors, comprising institutional investors, qualified investors, and retail investors alike. This inclusive approach shows Crypto.com’s dedication to enhancing accessibility and inclusivity within the crypto space, irrespective of an individual or entity’s investment profile.
Commenting on this achievement, Eric Anziani, President and COO at Crypto.com, expressed his enthusiasm for the prospects that this operational approval brings. “We’re excited to announce our full operational approval from Dubai’s Virtual Assets Regulatory Authority.”
He continued, “Crypto.com is the first global crypto operator to be operational with fiat in the UAE.”
Looking ahead, Crypto.com has outlined its strategic roadmap, which entails the phased rollout of its offerings to cater to both institutional and retail investors. The initial focus will be on launching the Crypto.com Exchange offering tailored to institutional investors, with plans underway to extend the Crypto.com App to retail customers in the ensuing months.
