We are thrilled to
announce that CoinCRED, an innovative and user-friendly cryptocurrency trading
platform has achieved a significant milestone by becoming a fully licensed
exchange in the United Arab Emirates (UAE). This accomplishment reflects our
platform’s unwavering commitment to security, transparency, and regulatory
compliance, making it a beacon of trust and innovation in the UAE's
cryptocurrency landscape.
The Dubai Authority of the UAE has granted CoinCRED, India's
leading Crypto trading platform, a full fiscal licence. CoinCRED is now legally
authorised to allow UAE crypto users to enjoy, deposit, and exchange coins. The
company is registered under the UAE Company Act of 2015 and has obtained the
General Trading LLC licence required to provide its services. And has now been
licensed through IAIC (first approval, issue license).
Our remarkable journey began in 2021 when a group of ambitious
entrepreneurs set out to create a seamless and safe platform for cryptocurrency
enthusiasts to trade efficiently. Right from the start, we prioritized
regulatory compliance and recognized the importance of gaining the trust of
both users and regulators.
Transparency and security were at the core of our operations.
Recognizing the power of community, we engaged with users through social media,
webinars, and educational content. Organized seminars and workshops to promote
financial literacy and responsible investment practices, empowering users to
make informed decisions.
We worked closely with regulatory bodies in the UAE to achieve
our vision, seeking guidance and understanding the requirements for obtaining a
full-fledged licence. We navigated a complex web of regulatory requirements,
demonstrating compliance with anti-money laundering (AML) and
know-your-customer (KYC) regulations and implementing measures to prevent fraud
and market manipulation.
Finally, after rigorous efforts and unwavering commitment to
regulatory compliance, CoinCRED obtained its full licence from the UAE's
Securities and Commodities Authority. This achievement is a testament to our
perseverance and dedication to creating a legitimate and secure platform for
cryptocurrency trading.
CoinCRED's success aligns with the booming cryptocurrency
industry, which is significantly gaining popularity worldwide. In the UAE
alone, around 1 lakh 60 thousand people are involved in cryptocurrency trading,
with Bitcoin accounting for approximately 1.50% of the overall population.
CoinCRED's journey showcases the potential for responsible
growth and the positive impact of regulatory compliance in the cryptocurrency
space. As we continue to expand our services and introduce new digital assets
and advanced trading tools, we remain committed to adhering to regulatory
standards and ensuring customer satisfaction.
In conclusion, CoinCRED's story is one of determination,
innovation, and community engagement, positioning the platform as a trusted and
fully licensed cryptocurrency exchange in the UAE. As we lead the way toward a
more secure and regulated trading landscape, CoinCRED's impact on the
cryptocurrency industry is bound to be indestructible.
By - Nitika Gola