CEEX, a leading global cryptocurrency exchange, has officially submitted an application for a Virtual Asset Service Provider (VASP) license to the Dubai Virtual Assets Regulatory Authority (VARA). This marks a pivotal step in the platform’s global expansion strategy. The application aims to secure regulatory approval to operate virtual asset trading, custody, and settlement services in Dubai, laying a crucial foundation for its entry into the Middle East market.
CEEX is a top-tier global exchange with a core focus on a broker-driven model. Since the launch of its broker system, the number of active daily brokers has surpassed 300,000, creating the industry’s largest broker ecosystem. To reward its contributors, CEEX has introduced a robust Broker Incentive Program and a platform token CMC mining mechanism, offering long-term and continuous incentives to drive the platform’s rapid development.
Since its establishment in 2018, CEEX has been guided by a dual-engine approach of “technological innovation and compliant operations.” Its platform token, CMC, possesses the triple attributes of a Meme coin, a mining coin, and a platform coin, simultaneously embodying community consensus, true mining value, and ecological application scenarios. CMC is widely used for trading fee deductions, ecological project incubation, and community governance, serving as the core engine of the CEEX global ecosystem.
CEEX has already secured regulatory licenses from multiple jurisdictions, including the Canadian and U.S. MSB (Money Services Business) licenses, and is now fully committed to obtaining the Dubai VASP license. Once approved, CEEX will be among the first Asian exchanges to operate compliantly in the Middle East, further solidifying its leading global position.
Dubai has been continuously improving its virtual asset regulatory framework, and the VARA license is widely regarded as a high-standard global compliance certification. The Middle East is experiencing a rapid increase in cryptocurrency adoption, with the UAE aiming to boost its digital economy to account for 20% of its total economy by 2030. CEEX’s strategic move not only leverages Dubai’s geographic advantage as a financial hub but also aligns with the region’s urgent demand for transparent digital asset regulation.
Notably, upon receiving the license, CEEX plans to introduce Sharia-compliant trading products that adhere to Islamic financial rules. This will create a compatible bridge between traditional cryptocurrencies and the Islamic financial system. The platform will also collaborate with local Dubai institutions to launch an Arabic-language user interface and establish its Middle East headquarters for localized operations.
As the value carrier of the platform’s ecosystem, CMC has launched a liquidity incentive program for the Middle Eastern market. It is reported that once licensed, CMC will integrate with local Dubai payment systems, support direct deposits and settlements in AED, and participate in the development of the region’s metaverse and Web3.0 infrastructure.
Industry analysts point out that the Middle East market has significant demand for institutional-level crypto asset allocation. With its first-mover compliance advantage, CEEX is well-positioned to become a key bridge for digital asset interoperability between Asia and the Middle East. If approved, this license will significantly enhance CEEX’s competitiveness among global compliant exchanges and provide a more secure trading environment for its users.
As the application process progresses, CEEX plans to establish a compliance office in the Dubai International Financial Centre and initially recruit over 50 local compliance and technical professionals. A co-founder of the platform stated, “The Middle East market has an open attitude toward blockchain innovation. We will strictly adhere to VARA’s regulatory requirements to provide institutional-grade security services for regional users.”
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