CryptoCom expands its global footprint through the provisional approval of an operating license in the UAE’s largest city, Dubai.
- CryptoCom, one of the largest crypto exchanges by volume, announced that they’ve received provisional approval from the Dubai Virtual Assets Regulatory Authority (VARA) for their Virtual Asset MVP license.
- VARA monitors and regulates operations and transactions on virtual assets, ensuring consumers are protected.
- The license is set to be issued once all of the mandated requirements are met by the company. The license would allow CryptoCom to offer comprehensive crypto exchange products and services such as lending and staking.
- Dr. Thani Al Zeyoudi, the Minister of State for Foreign Trade states that “Through our Virtual Asset Regulatory Authority and other important initiatives, we are attracting companies to the UAE to build on this vision and enable technologies of the future to flourish here.”
- CryptoCom has had an impressive marketing campaign within the last year with the $700M purchase of LA Clippers Arena, renamed the CryptoCom arena, and becoming the official sponsor of the 2022 World Cup.