On March 14th, 2023, Crypto.com secured a pivotal license from the Dubai Virtual Asset Regulatory Authority (VARA), as reported by FinanceFeeds. This limited license empowers the exchange to roll out derivative trading services within the United Arab Emirates, marking a significant milestone in the region’s crypto landscape. With this authorization, Crypto.com plans to introduce a suite of derivative products, including futures contracts, perpetual swaps, and contracts for difference (CFDs), initially targeting global institutional clientele before expanding to qualified investors. Notably, this license also establishes a USD fiat channel, enabling retail clients of Crypto.com to seamlessly deposit and withdraw USD through Standard Chartered Bank. Such developments underscore the growing institutional shift towards regulated crypto trading environments, positioning Crypto.com as a key player in the expanding UAE market.
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