Crypto.com Secures VASP License from Dubai's VARA for Cryptocurrency Services

Crypto.com, the Singaporean cryptocurrency exchange, has been granted a Virtual Assets Service Provider (VASP) license by Dubai's Virtual Assets Regulatory Authority (VARA) for its Dubai entity, CRO DAX Middle East FZE. Conditional upon meeting localization requirements, the license allows Crypto.com to offer regulated virtual asset services, including exchange, broker-dealer, management, investment, lending, and borrowing services.

Crypto.com aims to operationalize its VASP license swiftly, positioning itself as one of the first exchanges to comply with VARA's specific regulations introduced in February 2023. The milestone follows previous licenses and underscores the company's commitment to compliance and cross-border risk assurance in the evolving cryptocurrency landscape.

Dubai, designated as Crypto.com's regional center for the Middle East and Africa since March 2022, emphasizes the city's role in shaping sensible regulations for the cryptocurrency industry. Kris Marszalek, CEO of Crypto.com, expresses excitement about contributing to Dubai's thriving ecosystem and showcasing industry-leading products to customers across permissible jurisdictions from the region.

Established in 2016, Crypto.com, with over 80 million global users, envisions accelerating cryptocurrency adoption through innovation, fostering a just and equitable digital ecosystem for creators, builders, and entrepreneurs.