Dubai grants regulatory approval for Blockchain.com office: Report

Dubai grants regulatory approval for Blockchain.com office: Report

Blockchain wallet and cryptocurrency exchange platform Blockchain.com have been approved by Dubai’s Virtual Assets Regulatory Authority (VARA).

A Friday report by Reuters claims that VARA has signed an agreement that will allow Blockchain.com’s opening of a Dubai office. The crypto company currently has offices in North America and Europe as well as South America and Singapore.

Great work by the team here – Dubai https://t.co/8nQm8w8y3g
— Peter Smith (@OneMorePeter), September 9, 2022

VARA approved Crypto.com, OKX, and FTX subsidiaries to provide crypto-related services within the emirate after Sheikh Mohammed bin Rashid Al Maktoum, Dubai’s prime Minister and ruler, announced the creation of the crypto regulator in March. Al Maktoum launched a metaverse strategy in July that was designed to bring more then 40,000 virtual jobs to Dubai by 2030.

Related: From the valley, to oasis: Swiss and Dubai cryptocurrency associations team up

Blockchain.com, a pioneering Bitcoin infrastructure firm based in London, is seeking regulatory approval in Italy France Spain The Netherlands. The Cayman Islands Monetary Authority granted Blockchain.com permission to operate an exchange and offer custodial services in August. The crypto company was valued at $14 billion after a March funding round.

Cointelegraph reached Blockchain.com but was not able to get a response by the time of publication.

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