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Capital.com to launch UAE spot crypto services after affiliate license
The plan follows Capital Vault securing a virtual-asset license from the UAE’s Capital Market Authority, enabling it to execute, provide custody, and settle spot crypto for clients via Capital.com’s app.
Capital.com plans to expand in the United Arab Emirates by offering spot crypto services to local clients through its app, after its affiliate, Capital Vault, secured a virtual-asset license from the country’s Capital Market Authority (CMA), according to Cointelegraph.
The CMA approval allows Capital Vault to deal in virtual assets as an agent or matching principal and to provide custody on behalf of clients. When the service goes live, UAE users will be able to buy and hold actual crypto through Capital.com, with Capital Vault handling execution, custody, and settlement, rather than getting only price exposure.
Cointelegraph also notes that the offering will differ from Capital.com’s existing contracts for difference (CFD) products, which provide price exposure without ownership of the underlying tokens. Capital Vault will operate as a separate regulated entity, with governance, custody, and risk arrangements kept distinct from Capital.com’s other businesses.
Capital Vault has opened an office in Abu Dhabi and is building a local virtual-asset team. The development comes after the CMA introduced a virtual-asset regulatory framework in April that expanded regulated activities from three to eight, adding requirements covering business conduct, alternative trading systems, anti-money laundering controls, and prudential standards.