Skip to content Sets Sights on Institutional Investors with Dubai Launch

This marks a significant milestone, solidifying's commitment to the Middle East and Africa (MEA) region and its focus on attracting institutional capital.

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Global cryptocurrency exchange announced today the launch of its institutional-focused exchange in Dubai.

The launch follows's Dubai entity, CRO DAX Middle East FZE, receiving full operational approval from Dubai's Virtual Assets Regulatory Authority (VARA). This approval makes the first global crypto exchange to operate with fiat currency (traditional money) in the United Arab Emirates (UAE).

The full license is an upgrade from the a minimal viable product (MVP) license received from VARA in March 2023. Applies For Hong Kong License... Because it Has To is applying for a Hong Kong license at the behest of local regulators

Targeting Institutional Growth said it is strategically entering the Dubai market with a focus on institutional investors. According to the company, its exchange offers deep liquidity, a state-of-the-art matching engine, and a suite of services including spot trading, staking brokerage, and over-the-counter (OTC) offerings. This caters to the growing demand from institutional players seeking secure and regulated entry into the cryptocurrency space.

Dubai has emerged as a major hub for crypto activity in recent years. The government's progressive regulatory framework, established by VARA in February 2023, has attracted several leading crypto businesses. This focus on fostering innovation while ensuring consumer protection is a key driver behind's decision to establish its regional headquarters in Dubai.

“We are incredibly supportive of the steps Dubai is taking to progress the crypto industry, both in-market and abroad,” Stuart Isted, general manager, Middle East and Africa of, said in an announcement.

“But this is still just the beginning, and we look forward to continuing to work closely with VARA in our collective efforts to effectively and responsibly advance the sector,” he added.

While the initial launch focuses on institutional investors, said it plans to expand its offerings in the coming months by introducing its mobile application and other retail-focused products, catering to the broader investor base in the region.

Founded in 2016,, has more than 80 million customers worldwide, according to its website.