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Dubai gives green light to Crypto.com
Crypto.com’s Dubai arm – CRO DAX Middle East FZE – has been granted a licence by the state’s regulatory body.
Subject to operational approval, a Virtual Assets Service Provider (VASP) licence will give Crypto.com the ability to offer digital asset services as an exchange, including investment, lending and borrowing for both retail and institutional customers.
“Dubai continues to show it is a leading market when designing effective regulation for the crypto space while still supporting adoption and innovation,” said Kris Marszalek, Crypto.com CEO.
The crypto platform created its regional hub in the Gulf city state early last year with a view to gaining its VASP licence prior to 2024.