Capital.com to launch spot cryptocurrency offerings in UAE following affiliate's regulatory approval
Customers in the United Arab Emirates will gain the ability to purchase and store cryptocurrency directly via Capital.com's platform, moving beyond the exposure provided by CFD products.
CFD broker and trading platform Capital.com is preparing to launch spot cryptocurrency offerings for United Arab Emirates-based clients following the successful acquisition of a virtual-asset license by Capital Vault, its affiliate company, from the nation's Capital Market Authority (CMA).
Based on a statement provided to Cointelegraph, the regulatory license grants Capital Vault authorization to engage in virtual asset dealings as either an agent or matching principal while also offering custodial services for client assets.
When the platform becomes operational, clients located in the UAE will gain access to purchase and maintain actual cryptocurrency holdings via the Capital.com application, with Capital Vault handling the execution, custodial responsibilities and settlement processes. This represents a departure from the CFD products currently offered by Capital.com, which deliver exposure to cryptocurrency price movements without conferring actual ownership of the digital assets.
As a distinct regulated entity, Capital Vault maintains operations separate from Capital.com's other business units, with independent governance structures, custody solutions and risk management frameworks. The affiliate company has established operational premises in Abu Dhabi and is currently assembling a dedicated team focused on virtual-asset services in the region.
This regulatory approval comes on the heels of the CMA's implementation of a comprehensive virtual-asset regulatory framework in April, which broadened the scope of regulated activities from three categories to eight. The framework additionally established comprehensive requirements encompassing business conduct standards, alternative trading system protocols, anti-money laundering compliance measures and prudential regulatory standards.