Crypto.com has been focused on the UAE for a while now. Today, March 14, 2025, the company announced receiving a limited license from Dubai’s Virtual Assets Regulatory Authority (VARA) to offer derivatives in the UAE.
With its existing Virtual Asset Service Providers (VASP) license to operate in the UAE, the company is strengthening its presence in the region.
With this limited license, Crypto.com plans to initiate offering various derivatives products, including futures, perpetual swap contracts, and CFDs.
Our latest regulatory milestone – @cryptocom has received its license from @varadubai to offer derivatives in the #UAE.
Learn more 👉 https://t.co/LWlun3P3Ue https://t.co/ZqTFrGy0Xq
— Crypto.com (@cryptocom) March 14, 2025
Commenting on the development, Eric Anziani, President and COO of Crypto.com, stated, “We are aggressively transforming and evolving Crypto.com to provide users around the world all of the financial technology tools they are looking for in one place.”
“With this approval from VARA for a limited license, we are taking a significant and exciting step forward in our pursuit,” he added.
Partnership With Local Tech Firm Tawasal
The company has also announced a partnership with an AI and technology player, Tawasal, of the UAE. “This strategic partnership with Tawasal will see Crypto.com become their exclusive crypto partner of choice,” Crypto.com said on 13 March 2025.
Apparently, the integration is expected to be conducted in two phases. The first iteration of this deal will see Crypto.com’s platform referred by Tawasal Alkhaleej to its local and Middle East partners and collaborators. Second, there are also plans to integrate the Crypto.com platform into UAE’s leading Tawasal Superapp, offering access to Crypto.com’s products and services to nearly 4 million users.
Commenting on the partnership, Khamis AlShamsi, Chairman of Tawasal Alkhaleej, said, “Partnering with Crypto.com is about expansion, driving growth, and making the Crypto services even more attractive for UAE consumers.”
“This partnership is an outstanding example of how the UAE tech ecosystem is thriving, and where the integration of digital asset products can benefit companies and consumers alike, simplifying access to cryptocurrency and encouraging adoption while progressing the development of our industry,” said Anziani.
“You will be able to do more with cryptocurrency than with Dirham and Dollar,” Says Crypto.com UAE Head
Mohammed Al-Hakim, the newly appointed President of Crypto.com UAE, predicts that with the rise in crypto adoption in the region, digital assets might surpass traditional currencies in daily use cases.
In an interview with a local media outlet on 19 February 2025, Hakim stated, “In the next two years in the UAE, you will be able to do more with cryptocurrency than with the dirham and dollar.”
Hakim’s appointment as President of Crypto.com in the UAE marks him as the first GCC and Emirati national to assume a senior role in a global crypto exchange. Hakim’s appointment is designed to assist Crypto.com in navigating its expansion in the Gulf region.
