Altcoins

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

By Akriti Seth

Last Updated: Mar 14, 2025

Fact checked

By Sam Cooling

Disclaimer Icon
Disclaimer

Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
99Bitcoins may receive advertising commissions for visits to a suggested operator through our affiliate links, at no added cost to you. All our recommendations follow a thorough review process.

Crypto.com focuses on UAE
Disclaimer Icon
Disclaimer

Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
99Bitcoins may receive advertising commissions for visits to a suggested operator through our affiliate links, at no added cost to you. All our recommendations follow a thorough review process.

Crypto.com has been focused on the UAE for a while now. Today, 14 March 2025, the company announced receiving a limited licence by 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 licence, Crypto.com plans to initiate offering various derivatives products, including futures, perpetual swap contracts, and CFDs. 

Commenting on the development, Eric Anziani, President and COO of Crypto.com said, “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 licence, we are taking a significant and exciting step forward in our pursuit,” he added.

EXPLORE: 10 Coins with High Returns: Crypto Forecast 2025

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. 

Aparently, the integration is expected to be done 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 and the ability to trade crypto 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 assets products can benefit companies and consumers alike, giving simplified access to cryptocurrency which not only encourages adoption but also progresses 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 said, “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 makes him the first GCC and an Emirati national to assume a senior role in a global crypto exchange. Hakim’s appointment is expected to help Crypto.com better navigate its expansion in the Gulf region.

EXPLORE: 10 Best AI Crypto Coins to Invest in 2025

Key Takeaways

  • Crypto.com received a limited licence by Dubai’s Virtual Assets Regulatory Authority (VARA) to offer derivatives in the UAE. 

  •  Through this limited licence, all Crypto.com retail users can access USD fiat rails for depositing and withdrawing USD from their Crypto.com account via Standard Chartered. 

Why you can trust 99Bitcoins

10+ Years

Established in 2013, 99Bitcoin’s team members have been crypto experts since Bitcoin’s Early days.

90hr+

Weekly Research

100k+

Monthly readers

50+

Expert contributors

2000+

Crypto Projects Reviewed

Google News Icon
Follow 99Bitcoins on your Google News Feed
Get the latest updates, trends, and insights delivered straight to your fingertips. Subscribe now!
Subscribe now
Akriti Seth
Akriti Seth
Senior Editor

Akriti Seth is a Zurich-based Business Journalist and Crypto Editor. Her passion for journalism has taken her across the globe – from thriving as an on-television correspondent to writing engaging articles, she has worked for companies like Informa UK, Bloomberg... Read More

Free Bitcoin Crash Course

  • Enjoyed by over 100,000 students.
  • One email a day, 7 days in a row.
  • Short and educational, guaranteed!
Back to top