Victor Oluoma 
Crypto.com Expands into Dubai, Secures Operational Approval
Dubai’s strategic move welcomes Crypto.com, expanding its global reach and securing approval from the Virtual Assets Regulatory Authority (VARA).
The biggest cryptocurrency exchange in Singapore, Crypto.com, announced today that it has expanded its global network. This exchange has recently made a significant announcement that will allow it to expand its services in Dubai. This is a turning point in its expansion strategy.
Meanwhile, Crypto.com’s dedication to serving institutional investors in the Middle East is further reinforced by this strategic decision, which further solidifies its position as a prominent participant in the crypto sector.
Crypto.com Secures License in Dubai, Expanding Global Presence
In a significant step forward, the Virtual Assets Regulatory Authority (VARA) in Dubai has granted Crypto.com full operational approval. As the first service in the area, this milestone enables the cryptocurrency exchange to serve institutional investors.
This operational green light comes after Crypto.com’s Dubai subsidiary, CRO DAX Middle East FZE, completed the pre-operational conditions stipulated in the virtual asset service provider license that was awarded to them in November 2023. Significantly, Crypto.com is now the first worldwide crypto operator to achieve operational status with Fiat in the UAE, showcasing their pioneering position in the field.
Additionally, eligible individual investors and institutional clients will be able to access spot trading, staking brokerage, and other OTC offerings through Crypto.com. The cryptocurrency exchange is prepared to meet the demands of the Middle Eastern market with a smooth trading experience thanks to its deep liquidity and cutting-edge matching engine.
Crypto.com’s goal is to strengthen its position and products in the UAE market, and they have more product launches planned, including the Crypto.com app and retail-focused offers.
Seizing the Opportunity in the Market and the Support of Regulators
President and COO Eric Anziani of Crypto.com was enthusiastic about the company’s entry into the UAE market and highlighted the role of the crypto exchange’s institutional services in propelling growth and success. Alternatively, Stuart Isted, Crypto.com’s General Manager for the Middle East and Africa, shared similar views, drawing attention to the exchange and VARA’s joint efforts to properly promote the cryptocurrency business.
In addition to demonstrating Dubai’s forward-thinking attitude toward embracing the growth and innovation potential of the cryptocurrency sector, this action highlights Crypto.com’s dedication to regulatory compliance and market expansion.
This announcement follows a month of the cryptocurrency exchange experiencing difficulties in the Dutch market. This brings us to March, when the Dutch central bank levied a fine of $3.11 million against Crypto.com for doing business without registration.
