As Dubai seeks to foster crypto innovation, Blockchain.com has signed a Memorandum of Understanding (MOU) with the Dubai Virtual Assets Regulatory Authority (VARA). That means that soon both retail and institutional clients will be able to access the financial system of the future through Blockchain.com in Dubai.
Known for pioneering innovation in architecture, finance, and travel, the United Arab Emirates aspires to become a hub of global assets and blockchain technology. Dubai is committed to providing the crypto industry a meaningful center of gravity that also boosts the local economy.
The regulatory body’s strategy is to provide meaningful guidelines and regulatory predictability to virtual asset service providers while protecting investors and enabling growth of the virtual assets sector.
Crypto investors in Dubai and its surrounding regions will soon be able to experience Blockchain.com’s full suite of retail and institutional brokerage tools including custodial services, an exchange, and OTC crypto brokerage services for institutional clients.
As part of our local commitment, Blockchain.com is in the process of opening a local office and intends to hire in the region. We are also actively pursuing a local Minimum Viable Product license, followed by a full license as soon as it becomes available.
This licensing process is part of our broader commitment to global compliance and regulation in every jurisdiction where we do business. In addition to our existing arsenal of regulatory licenses across U.S. states and several European jurisdictions, we are actively pursuing additional licenses in Germany, the Netherlands, France, Spain and Ireland, providing an ever-expanding range of options for our retail and institutional clients.
Blockchain.com Obtains Provisional Approval to Operate in Dubai was originally published in @blockchain on Medium, where people are continuing the conversation by highlighting and responding to this story.