Capital Vault secures UAE virtual asset license, Capital.com plans to offer spot crypto services

Odaily News Capital.com, a trading platform and contracts-for-differences (CFD) broker, has had its affiliated entity Capital Vault obtain a virtual asset license from the UAE's Capital Markets Authority (CMA), allowing it to conduct virtual asset trading as an agent or principal, as well as provide custody services to clients.

Once the service goes live, UAE clients will be able to buy and hold crypto assets through the Capital.com app, with Capital Vault handling execution, custody, and settlement. This service is distinct from Capital.com's existing CFD products, which only offer price exposure and do not represent ownership of the underlying crypto assets.

Capital Vault operates as an independent regulated entity, with its governance, custody, and risk arrangements separated from Capital.com's other businesses. It has established an office in Abu Dhabi and assembled a local virtual asset team.

The approval follows the CMA's introduction of a virtual asset regulatory framework in April. The framework expands the number of regulated activities from three to eight, covering business conduct, alternative trading system requirements, anti-money laundering controls, and prudential standards. (Cointelegraph)