Secures Full Operational License from Dubai’s VARA officially enters the UAE with full operational approval from Dubai’s VARA. mascot lion confident in sunny Dubai.
Created by Kornelija Poderskytė from DailyCoin
  • has made a big announcement.
  • The exchange’s Dubai entity scored approval from a key regulator.
  • The development will see the exchange tap into the emerging UAE crypto market.

Singapore-based exchange announced on Tuesday that its Dubai entity has received full operational approval from the Virtual Assets Regulatory Authority (VARA), allowing the company to expand its presence to the United Arab Emirates (UAE).

The development comes after the exchange’s local entity, CRO DAX Middle East FZE, fulfilled VARA’s pre-operational conditions in November last year. This paved the way for the entity to be granted a Virtual Asset Service Provider (VASP) license. Solidified Its Presence in the UAE

According to a press release dated April 9, CRO DAX Middle East FZE is keen on launching the Exchange for institutional investors as its first operational milestone in the UAE after securing full approval from VAARA.


Upon launch, the exchange will provide services powered by its “deep liquidity and a state-of-the-art matching engine,” including spot trading, staking brokerage, and OTC offerings around settlements for “selected markets.”

The operational approval has also paved the way for to plan other in-market product launches expected in the “coming months,” including additional retail-focused products and the app. President and Chief Operating Officer Eric Anziani welcomed the approval, noting that it would be fundamental for the exchange’s continued growth and success.


“We are thrilled to expand our presence and offering in the UAE with the support of VARA.” Anziani stated. “Launching with our world-class Exchange institutional services will be fundamental to our continued growth and success in such a key market for our company.”

Per the statement, the approval marks the beginning of what will culminate in close collaboration between and VARA to “effectively and responsibly” advance the nascent digital assets sector.

Read about’s recent win in the UK: Wins Electronic Money Institution License in the UK

Stay updated on’s regulatory woes in the Netherlands: Faces $3.1M Fine from Dutch Regulatory Authority

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Brian Danga

Brian Danga, a Kenyan crypto reporter, is dedicated to delivering breaking news and updates from the cryptocurrency world. With a background as a Web3 writer and project manager, he recognizes the importance of unbiased reporting. Holding an LLB degree from the University of Nairobi, Brian's analytical skills contribute to his accurate news reporting. His personal interests include cooking, watching documentaries, reading, and engaging in intellectual discussions.