Crypto.com Secures VARA License to Launch Derivatives in Dubai, Expanding Global Crypto Reach

B. Ali
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Crypto.com has made a major move in its global expansion by securing a limited license from Dubai’s Virtual Assets Regulatory Authority (VARA). This license allows the exchange to offer derivative products, such as futures, perpetual swaps, and contracts for difference (CFDs), to institutional and qualified investors both in the UAE and internationally.

This step also extends Crypto.com’s Virtual Asset Service Provider (VASP) status and aligns with the company’s goal of evolving into a comprehensive financial technology platform.

At first, these services will be available to big investors (institutions), but later, they will also be offered to experienced individual investors. Eric Anziani, the company’s President and COO, highlighted that Crypto.com aims to provide all essential financial tools in one place for its users.

Crypto.com Accelerates 2025 Roadmap with Key Milestones and Standard Chartered Partnership in the UAE

Crypto.com’s recent VARA license is a key part of its 2025 plan, which focuses on launching major projects and meeting important regulatory goals in the UAE. Following the acquisition of its VASP license in November 2023, Crypto.com has made substantial progress, receiving full operational approval in April 2024.

In August 2024, the company also rolled out its global retail services, partnering with Standard Chartered. This series of developments has reinforced Crypto.com’s growing presence in the rapidly expanding cryptocurrency market in the UAE.

As part of the expanded license, Crypto.com users in the UAE can now deposit and withdraw USD from their accounts using Standard Chartered’s fiat services. This feature highlights the UAE’s forward-thinking regulatory approach and reinforces Dubai’s emerging role as a global hub for regulated cryptocurrency innovation.

Crypto.com’s VARA License Enhances Dubai’s Role as a Crypto Hub and Boosts Market Liquidity

Dubai’s progressive regulatory environment continues to attract major players in the crypto industry. Crypto.com’s approval by VARA further solidifies the UAE’s commitment to offering a stable and regulated space for cryptocurrency activities.

This milestone will not only improve Crypto.com’s service offerings but also position Dubai as a central player in the global cryptocurrency market.

As Crypto.com continues to expand its services and gain regulatory approvals, it is set to grow stronger in the UAE and globally. This step is an important achievement in the company’s international expansion and its bigger goal of becoming a leader in the crypto industry.

Impact of Crypto.com’s VARA License on the Crypto Market and Investors

Consequently, the approval of Crypto.com’s limited license from Dubai’s VARA is expected to have a deep impact on the crypto market. As one of the largest global exchanges, Crypto.com’s entry into the derivatives space is poised to enhance market liquidity and offer a wider range of trading options to institutional and qualified retail investors.

The introduction of futures, perpetual swaps, and CFDs will provide new opportunities for hedging, speculation, and portfolio diversification, making the UAE’s crypto market an even more attractive destination for institutional investors.

For individual investors, the availability of derivative products could introduce more sophisticated strategies, potentially lowering risk and increasing returns. Moreover, the regulatory approval from VARA boosts confidence in the safety and legitimacy of the crypto space, which could attract more cautious investors who are looking for a secure entry point into the market.

About B. Ali PRO INVESTOR

Live webinar speaker and derivatives (Forex, Crypto, and Indices) analyst with a broad range of skills for evaluating financial data, investment trends, technical analysis, fundamental analysis, and the best ways to strategies investment selection.  Expertise: Trading Psychology; Speculative Positioning & Market Sentiment; Technical & Fundamental Analysis.