Crypto.com and Changer.ae Forge Agreement to Enhance Regulated Digital Asset Services in the UAE

In a move aligned with the comprehensive regulatory framework for virtual assets in the UAE, Crypto.com and Changer.ae have signed a Memorandum of Understanding (MoU) aimed at enhancing regulated digital asset services.

Key Takeaways

Strategic Partnership: Crypto.com and Changer.ae aim to collaborate on improving digital asset services in the UAE.
Regulatory Environment: The partnership underscores the UAE's position as a leading hub for digital finance, backed by a robust regulatory framework.
Innovative Solutions: The companies plan to integrate Crypto.com's institutional solutions to bolster Changer's cryptocurrency-fiat conversion services.
Local and Global Expertise: This alliance combines Changer's local market insights with Crypto.com's international regulatory experience.
Licensed Operations: Changer is a licensed virtual asset service provider in the UAE, specifically under the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM).

Crypto.com and Changer.ae Sign MoU to Expand Regulated Digital Asset Services in UAE

Agreement Details

The recent agreement highlights the UAE's commitment to establishing itself as a global leader in digital finance, supported by a comprehensive legislative framework that covers virtual assets, custody, and digital asset infrastructure. The new partnership will explore joint initiatives, particularly focusing on integrating Crypto.com’s institutional solutions to enhance liquidity for Changer’s cryptocurrency-to-fiat conversion services, alongside other regulated digital asset custody options, contingent upon obtaining necessary regulatory approvals.

Promoting Responsible Digital Asset Adoption

The goal of this partnership is to encourage the responsible use of digital assets by leveraging the strengths of both companies. Changer’s FSRA-licensed and ADGM-authorized platform, combined with its understanding of the local market, will work in tandem with Crypto.com's extensive global infrastructure and regulatory expertise.

The Role of Abu Dhabi Global Market

Abu Dhabi Global Market (ADGM) stands out as a prominent jurisdiction for virtual assets in the region. It offers a well-defined framework that emphasizes high standards for institutional engagement, market integrity, and consumer protection.

About the Companies

Founded in 2016, Crypto.com is recognized as a leader in security, privacy, and regulatory compliance, boasting millions of users globally. Its mission is clear: Cryptocurrency in Every Wallet™. The company is devoted to leveraging innovative technology to expedite the adoption of cryptocurrencies.

Changer.ae, headquartered in ADGM, Abu Dhabi, has received licensing as a regulated virtual asset service provider from the FSRA. It offers secure and compliant digital asset services to individuals, corporations, and institutions within the UAE. For more information, visit Changer.ae.

This partnership heralds a significant step toward the further integration of digital asset services in the UAE’s financial landscape, reinforcing the region's ambition to lead in the global digital finance sector.