A cryptocurrency exchange has recently obtained the Virtual Asset Platform Operator License from the Securities and Commodities Authority (SCA) of the United Arab Emirates (UAE). This license enables the exchange to offer regulated services in virtual asset trading, brokerage, custody, and fiat conversions within the country.
Being the first exchange to receive this comprehensive license from the SCA marks a significant achievement. It follows the preliminary approval granted earlier in February of 2025, which was supported by the Blockchain Centre in Abu Dhabi.
Plans for expansion in the UAE include setting up a larger regional operations center in Abu Dhabi. The exchange aims to recruit over 500 employees in both Abu Dhabi and Dubai, focusing on areas such as compliance, operations, and customer service. Furthermore, initiatives to introduce educational programs and Web3 collaborations with local partners are part of the strategy.
The progress in regulatory matters highlights the growing recognition of the UAE as a leading hub for digital asset regulation. Getting this license reinforces the robust governance and security measures in place, reflecting the regional effort to establish a secure and compliant environment for cryptocurrency activities.
Additionally, the exchange has made strides in its offerings by launching a 24/5 trading feature for stock Contracts for Difference (CFDs) on its traditional finance platform. This service provides users with access to select equities around the clock on weekdays, thus overcoming limitations previously imposed by U.S. market hours. Since May 2025, more than 100 stock CFDs have been added, focusing on significant technology and cryptocurrency-related companies. The structure also maintains existing positions and fee structures, while temporarily waiving transaction fees on specific stocks and indices.
Overall, these developments indicate a concerted effort to not only expand the reach and capabilities of the cryptocurrency platform but also to integrate traditional financial products alongside digital offerings. The shift towards a comprehensive and diversified platform aims to cater to a broader audience of investors and traders within the rapidly evolving financial landscape.