OFZA Crypto exchange now licensed by Dubai’s Regulator

OFZA Crypto exchange now licensed by Dubai’s Regulator

OFZA, a UAE established cryptocurrency exchange that provides seamless and secure crypto trading offering has secured a full VASP license from Dubai’s Virtual Asset Regulatory Authority (VARA). As per the license, OFZA will be able to offer crypto broker-dealer Services, crypto exchange services, management and Investment Services as well as advisory services to both retail and institutional investors as well as qualified investors in the UAE.

With the license from VARA, OFZA becomes the 20th Virtual Asset exchange and broker provider to be licensed by VARA in the UAE. The license comes at a time when crypto is gaining immense traction with the new Trump administration.

The crypto exchange will be competing with players such as Binance, CoinMENA, Crypto.com, OKX and others in the UAE.

According to Chainalysis’ Geography of Crypto Report 2024, the UAE saw a 42% year-on-year growth in crypto transactions, receiving $34 billion between July 2023 and June 2024. The Middle East and North Africa region (MENA) accounted for 7.5% of all cryptocurrency transaction volume globally between July 2023 and June 2024.

Chainalysis estimated the total value received during the period to be $338.7 billion, with the vast majority of the transaction volume coming from institutional and professional investors.

Crypto.com acquires Abu Dhabi based brokerage company

Crypto.com acquires Abu Dhabi based brokerage company

Crypto.com has acquired Orion Principals Limited, a brokerage company licensed by the Abu Dhabi Global Market (ADGM) in the UAE. As per the press release, the move is part of the company’s strategic plan to integrate traditional financial services into its platform, a step that will soon allow users to access securities (e.g. stocks), options, futures, contracts for difference (CFDs), and more.

Orion’s ADGM license enables Crypto.com to expand its offerings while maintaining compliance with one of the most respected regulatory frameworks for digital assets. With this acquisition, Crypto.com continues to grow its presence in the UAE, solidifying its reputation as a global innovator in digital finance.

“We have a clear path set out in our product roadmap for 2025—to offer our users the most comprehensive platform for a broad range of financial investment services. We are continually growing our presence in the UAE, which has one of the strongest regulatory frameworks for the digital assets industry globally and we appreciate ADGM’s commitment to supporting innovation in our sector.”
stated, Kris Marszalek, CEO of Crypto.com


For Crypto.com’s users, this move signals access to a more diverse range of investment opportunities. The integration of traditional financial instruments will allow traders to diversify their portfolios, managing both digital and conventional assets from a single platform. This blending of markets aligns with the growing demand for seamless cross-asset trading experiences and positions Crypto.com as a leader in unified financial services.

Crypto.com also recently gained a crypto payment services license in Bahrain and partnered with MasterCard to issue crypto cards in Bahrain.