Capital.com, a trading platform and Contracts for Difference (CFD) broker, plans to offer crypto asset trading services on the spot market to clients in the United Arab Emirates after its affiliate company, Capital Vault, obtained a virtual assets license from the country's Capital Markets Authority (CMA).
In a statement sent to Cointelegraph, it was mentioned that the license allows Capital Vault to conduct operations with virtual assets as an agent or a matching principal, as well as to provide custody services to clients.
After the service launches, clients in the UAE will be able to buy and store crypto assets through the Capital.com app, with Capital Vault facilitating trade execution, custody, and settlements. In contrast, Capital.com's CFDs allow trading on price movements without owning the underlying crypto asset.
Capital Vault operates as a separate regulated entity. Its management, asset storage system, and risk management procedures are separate from other Capital.com business lines. The affiliate company has opened an office in Abu Dhabi and is building a local virtual assets team.
This move follows the CMA's introduction of a regulatory framework for virtual assets in April, which expanded the number of regulated activities from three to eight. This framework also established requirements for business conduct, alternative trading systems, anti-money laundering measures, and prudential standards.
Related: Bitcoin.com integrates UAE-registered US dollar-pegged stablecoin into non-custodial wallet
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