Crypto.com has received a limited cryptocom-issued-licence-in-the-uae-to-offer-derivatives”>license from Dubai’s Virtual Assets Regulatory Authority (VARA), allowing it to offer derivatives trading in the United Arab Emirates. The new approval expands the company’s existing Virtual Asset Service Provider (VASP) license, granted in 2023, and follows full operational approval received in April 2024.
Crypto.com Plans for Expansion of Derivatives Offerings
With this limited license, Crypto.com plans to introduce a range of derivatives products, including futures, perpetual swaps, and contracts for difference (CFDs). Initially, these services will be available to institutional clients worldwide, with qualified investors gaining access at a later stage.
The approval also enables Crypto.com retail users to deposit and withdraw U.S. dollars through Standard Chartered. This expansion aligns with the company’s broader strategy to enhance its financial technology services throughout 2025.
Regulatory Milestone in Dubai
Dubai has positioned itself as a global hub for digital assets, with VARA overseeing compliance and regulatory approvals. Crypto.com’s latest milestone reflects the continued development of the region’s virtual asset framework.
Eric Anziani, president and chief operating officer of Crypto.com, described the approval as a step forward in the company’s strategy to broaden its offerings. “With this approval from VARA, we are taking a significant and exciting step forward in our pursuit,” he said.
Crypto.com first obtained its VASP license in November 2023, followed by full operational approval in April 2024. The company also launched global retail services in August 2024, supported by Standard Chartered.
VARA continues to regulate digital asset firms operating in Dubai, issuing approvals based on compliance with its evolving framework.
