Blockchain.com got regulatory approval from Dubai officials to provide crypto services. As per the reports, the VARA has previously approved many other crypto exchanges besides Blockchain.com to offer crypto-related services within the country, which includes Crypto.com and FTX subsidiaries.
Blockchain.com to provide services in Dubai
One of the most popular crypto exchange platforms, Blockchain.com, has got approval from VARA to provide its services in the emirates, which is a great achievement for them.
According to a report, which was released last Friday, VARA had signed an agreement that will allow their platform to open its office in Dubai. Besides Dubai, this firm has offices in many other nations, which include North America, Singapore, South America, and several more.
After the Prime Minister and Ruler of Dubai, Sheikh Mohammad, announced the establishment of a crypto regulatory framework in the country along with crypto laws in March, VARA started allowing different crypto exchanges to provide its services in Emirates. Last Month, AI Maktoum also talked about a metaverse method that aims to create more than 40,000 virtual jobs in Dubai by the end of 2030, which would be great. This would also allow the residents of Dubai to invest in currencies without restriction. It is also great for the crypto market in several ways.
Blockchain.com is one of the oldest BTC infrastructure firms, which is famous all over the world due to a couple of reasons. Its headquarter is located in London. The firm’s primary focus is to acquire regulatory approval in Italy, Spain, and some other countries to expand itself. Last month, Blockchain also got the opportunity to operate its exchange and provide crypto services in the Cayman Islands. The firm’s current valuation reportedly is around 14 billion, making it one of the biggest crypto firms in the market.
Blockchain CEO and Founder Peter Smith also tweeted about their success in getting the approval to open its office in Dubai and provide crypto services in the Emirates, stating that he is very happy with the blockchain.com team working in Dubai.
What are your thoughts on Blockchain.com’s success in getting approval to operate in Dubai? Have you ever used this platform, and if yes, how was your experience? Let us know in the comments below. And, if you found our content informative, share it with your family and friends.
Also Read: Coinberry sued its users for stealing bitcoins.