Crypto.com crypto exchange has achieved a significant milestone by securing a license to operate in Dubai.
The license, granted to Crypto.com’s Dubai branch, known as CRO DAX Middle East FZE, follows the initial approval received in March.
The licensing process in Dubai involves several stages, including a provisional permit, a preparatory license, and the final operating license.
Crypto.com has successfully navigated through these steps and is now poised to enter the operational phase, pending compliance with local regulations and conditions.
Upon full operation, Crypto.com plans to offer a range of services, including exchange services and broker-dealer services, among others.
This development adds to the company’s growing list of licenses obtained in various countries, including Singapore, the Netherlands, the U.K., France, and Brazil.
Despite facing challenges such as staff reductions and banking issues, Crypto.com remains committed to its global expansion strategy.
Since February 2023, Dubai has mandated that cryptocurrency companies obtain proper authorization to operate.
Crypto.com joins the ranks of other major firms, such as Laser Digital, in securing the necessary approvals to conduct operations in the vibrant crypto landscape of Dubai.