A cryptocurrency exchange has obtained the Virtual Asset Platform Operator License from the Securities and Commodities Authority (SCA) of the United Arab Emirates. This licensure permits the exchange to provide regulated services for virtual asset trading, brokerage, custody, and fiat conversion within the nation, marking a significant milestone in its operational journey.
The exchange claims to be the first of its kind to secure this complete license from the SCA. This development follows an In-Principle Approval that was granted earlier in February 2025, which was facilitated through collaboration with the Blockchain Centre in Abu Dhabi.
There are plans for a significant expansion within the UAE. The exchange is set to establish a larger regional operations center in Abu Dhabi, with the intention of employing over 500 personnel across both Abu Dhabi and Dubai. The recruitment strategy will focus on positions relating to compliance, operations, and customer service. Additionally, the expansion will include educational and Web3 programming in partnership with local organizations.
The licensing by the SCA is part of broader regulatory advancements undertaken throughout 2025. This includes securing a MiCAR license in May, followed by a resumption of full trading activities in India in September.
To complement its operations, there is a recent introduction of 24/5 stock CFD trading on the exchange’s TradFi platform, enhancing users’ access to selected equities throughout the weekdays. This update allows traders to engage continuously without the restrictions of traditional U.S. market hours, bringing market hours more in line with cryptocurrency trading.
Since May 2025, the platform has incorporated over 100 stock CFDs, featuring well-known technology firms and companies closely linked with cryptocurrencies. Current positions and transaction fees on these trading items remain unchanged, with a temporary waiving of fees on particular stocks and indices, promoting easier accessibility to both traditional financial products and cryptocurrency offerings.
This significant achievement and subsequent developments underscore the United Arab Emirates’ rising reputation as a global hub for digital asset regulation, establishing a robust framework for security and governance standards within the financial landscape.