Capital.com affiliate wins UAE licence for spot crypto

Capital.com plans to offer spot cryptocurrency trading in the United Arab Emirates after its affiliate, Capital Vault, obtained a virtual-asset license from the UAE Capital Market Authority (CMA). The licence permits UAE-based users to buy and hold cryptocurrencies through the Capital.com app, with execution, custody and settlement handled locally by Capital Vault.

The licence allows Capital Vault to deal in virtual assets either as an agent or as a matching principal and to provide custody services on behalf of clients. Unlike contracts-for-difference (CFD) products that give price exposure without ownership, the planned spot service will give investors direct ownership of tokens, with the affiliate managing the operational steps needed to hold crypto.

Capital Vault is a separately regulated entity with governance, custody and risk arrangements kept distinct from Capital.com’s other businesses. The affiliate has opened an office in Abu Dhabi and is assembling a local virtual-asset team to manage operations and client services in the UAE. No launch date has been announced.

The CMA introduced a virtual-asset regulatory framework in April that expanded the number of regulated activities from three to eight. The framework sets requirements for business conduct, alternative trading systems, anti-money-laundering controls and prudential standards for firms operating in the virtual-asset sector.

Under the new licence permissions, Capital Vault will be able to execute trades on clients’ behalf and act as a matching counterparty where appropriate, while offering custody arrangements that separate clients’ crypto holdings from other business assets. The announcement did not include details on pricing, the list of supported tokens or a rollout timeline. Once services begin, execution and settlement for UAE customers will be handled locally through the affiliate’s operations.