Crypto.com Secures MVP Preparatory License in UAE

The global crypto platform Crypto.com announced today that it has been granted its Minimal Viable Product (MVP) Preparatory License from Dubai's Virtual Assets Regulatory Authority (VARA). The crypto firm secured the initial provisional approval from VARA in June 2022.

The MVP Preparatory License allows for Crypto.com to fulfill all pre-conditions required to undertake MVP market operations within the VARA Regime. Once licensed to be operational, the company can extend its approved suite of duly regulated virtual assets activities spanning a range of crypto exchange services (spot and derivatives), brokerage, margin/leverage trading, and OTC offerings around settlements for institutional investors. 

The firm plans to deliver a full suite of institutional services in-market in compliance with regulations in UAE.

 "This achievement is the next significant step for Crypto.com in an incredibly important market for our business and industry," said Kris Marszalek, CEO of Crypto.com. "With the MVP preparatory license, we look forward to continuing to work with regulators in providing customers the most comprehensive and secure crypto experience."