Secures License to Operate in Dubai
The Virtual Assets Regulatory Authority (VARA) in Dubai has granted full operational approval to’s Dubai subsidiary, CRO DAX Middle East. The company plans to set up the Exchange for institutional investors.

The approval also makes the first foreign exchange to operate with fiat currency within the UAE. plans to focus on both qualified individual investors and institutional clients. Dubai Gains VARA Nod, Targets Institutional Investors

The exchange will now provide spot trading and staking brokerage to its Dubai users. It would also offer over-the-counter (OTC) offerings related to settlements for specific markets.

Eric Anziani, president and chief operating officer at, said of the approval: “Being the first global crypto operator operational with fiat in the UAE is a significant milestone and reflects our dedication to working closely with regulators to advance the industry responsibly.” plans to expand its presence in Dubai and expand its offerings in the coming months. The company praised Dubai for its reception of crypto projects.

Stuart Isted,’s General Manager for Middle East and Africa, commented: “We are incredibly supportive of the steps Dubai is taking to progress the crypto industry, both market and abroad. But this is still just the beginning, and we look forward to continuing to work closely with VARA in our collective efforts to effectively and responsibly advance the sector.”

More About in Dubai plans to expand its presence in Dubai and expand its offerings in the coming months. The company praised Dubai for its reception of crypto projects. has sought to improve its relationship with regulators lately. The exchange secured a Minimal Viable Product (MVP) preparatory license from VARA last year. This license came after the cryptocurrency exchange had previously received a preliminary clearance.

Dubai established VARA under its Virtual Asset Regulation Law. VARA has played a pivotal role in establishing Dubai as a fast-growing crypto hub. The body has helped attract several key crypto companies to Dubai in recent months. Continues its Expansion

Founded in Hong Kong in 2016, operates from Singapore. The exchange has focused on expanding to other regions in recent months. The trading platform plans to launch its app. And other products for individual investors.


The exchange also plans to introduce a trading platform for Korean users. The platform will launch on April 29.


The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.