This Week In Crypto Asia: Crypto.com Focuses On UAE, Receives License To Offer Derivatives

Crypto.com has received a limited licence from Dubai’s Virtual Assets Regulatory Authority (VARA) to offer derivatives in the UAE. This development strengthens the company’s presence in the region and allows them to offer various derivatives products, including futures, perpetual swap contracts, and CFDs.

Eric Anziani, President and COO of Crypto.com, expressed his excitement about this regulatory milestone and stated that it is a significant step forward in their pursuit to provide users with all the financial technology tools they are looking for in one place.

In addition to the licensing announcement, Crypto.com has also entered into a strategic partnership with Tawasal, an AI and technology firm in the UAE. This partnership will make Crypto.com the exclusive crypto partner for Tawasal Alkhaleej, allowing access to Crypto.com’s products and services for nearly 4 million users through the Tawasal Superapp.

Mohammed Al-Hakim, the newly appointed President of Crypto.com UAE, predicts that digital assets may surpass traditional currencies like the dirham and dollar in daily use cases within two years. His appointment is expected to help Crypto.com navigate its expansion in the Gulf region.

Overall, these developments highlight Crypto.com’s focus on the UAE market and their commitment to providing innovative financial services to users in the region.