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    Unlocking Dubai: Crypto.com Earns Full Operational License!

    Institutional Investors Welcome Crypto.com to Dubai with Full Approval

    Digital asset exchange Crypto.com has received full operational approval from Dubai’s Virtual Assets Regulatory Authority (VARA) for its local entity, making it the first global crypto firm to be operational with fiat in the UAE.

    Singapore-based Crypto.com announced on Tuesday that its local entity, CRO DAX Middle East FZE, is now listed on VARA’s public register, allowing for the use of the Crypto.com exchange by institutional investors in the United Arab Emirates (UAE).

    This follows various regulatory approvals given to other crypto entities in the UAE over the past few months, including Deribit, M2, Rain, Nexo, Fasset, and OKX.

    Crypto.com’s full license from VARA marks a major milestone for the global crypto industry, as it is the first crypto operator to be fully operational with fiat in the UAE.

    The company also has plans in place for additional product launches, with a focus on retail-user services.

    While Crypto.com has seen tremendous success in gaining regulatory approvals in Singapore, France, Brazil, and the UK, it has also faced challenges, including fines in the Netherlands, downsizing of its workforce, and difficulties maintaining fiat on-ramps during last year’s banking crisis.

    Eric Anziani, president and chief operating officer of Crypto.com, emphasized the importance of launching with institutional services in Dubai for the company’s growth and success in this key market.

    Edited by Sandali Handagama.

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