Capital.com plans UAE spot crypto services after affiliate wins licence
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Capital.com plans to offer spot cryptocurrency services in the United Arab Emirates following its affiliate, Capital Vault, receiving a virtual-asset license from the UAE's Capital Market Authority (CMA). This license enables Capital Vault to act as an agent or matching principal in virtual asset transactions and provide custody services. UAE clients will be able to buy and hold actual cryptocurrencies through the Capital.com app, with Capital Vault handling execution, custody, and settlement.
Why it matters
This development allows UAE clients to move beyond trading contracts for difference (CFDs) into owning actual cryptocurrencies, reflecting an expansion of crypto service offerings in the region. The approval follows new regulatory frameworks aimed at enhancing oversight and standards for virtual asset activities in the UAE.
Key context
The CMA introduced a virtual-asset regulatory framework in April that increased the number of regulated activities from three to eight and established requirements on business conduct, alternative trading systems, anti-money laundering, and prudential standards. Capital Vault operates as a separate regulated entity with distinct governance and risk arrangements from Capital.com’s other businesses.
Key numbers and entities
Capital.com, Capital Vault (affiliate), United Arab Emirates Capital Market Authority (CMA). The CMA expanded virtual-asset regulated activities to eight in its new framework introduced in April.
What remains unclear
The timeline for the launch of spot crypto services and detailed client onboarding processes have not been specified. The source does not elaborate on the range of cryptocurrencies that will be available or specific pricing or fee structures.