Cryptocurrency Exchange gets licensed by VARA in Dubai recently announced the launch of its entity in Dubai, CRO DAX Middle East FZE, being granted a VASP (virtual assistant service provider) license for certain digital asset service activities by VARA (Virtual Asset Regulatory Authority). The VASP license that has obtained is subject to the firm satisfying VARA’s terms and conditions and localization requirements and commencing operations after getting an operational approval notice from the regulator. 

With the VASP license, can offer virtual asset service activities such as broker-dealer, exchange, borrowing, lending, and investment and management services. 

The services will be offered to institutional and retail users through the Exchange and App. The exchange works diligently to become a virtual asset exchange with its VASP license. 

This is a huge milestone for the company that exhibits its commitment to cross-border compliance and risk assurance with a strong framework put forward by VARA. 

The CEO of, Kris Marszalek, stated that will soon become one of the first cryptocurrency exchanges to be licensed under the VARA and granted a VASP license. As Dubai continuously expands its market, designing efficient rules and regulations for the users in the cryptocurrency space, it shows greater support for innovation and adoption of crypto platforms. was established in 2016 and currently has over 80 million customers worldwide. It is an industry leader in security, regulatory compliance, and privacy. is fully committed to accelerating crypto adoption through cutting-edge technological advancement and empowering the next-gen creators, entrepreneurs, and builders to develop a more critical and fairer digital ecosystem. 

VARA, founded in 2022, is a competent entity that oversees, supervises, and regulates VA Activities and VAs in Dubai. It plays a critical role in developing an advanced legal framework in Dubai to shield investors from criminal agents and build international standards for the governance of the virtual assets market.

Erica Lee

Erica is a finance professional who has over a decade of experience in the finance sector as a management consultant. After years of reporting on forex, stock markets, and finance, she now contributes her strong financial skills with the CoinNewsSpan team. Since 2014, she has been deeply involved in the blockchain and cryptocurrency space. She believes that blockchain technology has tremendous potential to make our lives better.

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