A PYMNTS Company

Dubai Allows The Entry Of Crypto Firm Blockchain.com

By  |  September 12, 2022

London-based crypto firm Blockchain.com said it had won a provisional approval to operate in Dubai, becoming the latest in a series of digital asset companies expanding in the Gulf as the region looks to become a hub for blockchain technology.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The company, which offers users a crypto wallet and is also a crypto exchange, said on Friday it had signed an agreement with Dubai’s crypto regulator Virtual Assets Regulatory Authority (VARA) and would open an office in the region and begin hiring.

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    The United Arab Emirates (UAE) has been pushing to develop virtual asset regulation to attract new forms of business as economic competition heats up in the Gulf region.

    Dubai, one of the UAE’s seven emirates and the region’s business hub, in March adopted its first law governing virtual assets and established VARA as a regulator for the sector.

    Since then, the emirate has also granted virtual asset licenses to crypto giants Binance and FTX.