Capital Vault Obtains UAE Virtual Asset License, (((((Capital.com))))) Plans to Offer Spot Crypto Services

Odaily Planet Daily reports that (((((Capital.com)))))—a trading platform and CFD (Contract for Difference) broker—has its affiliated entity, Capital Vault, granted a virtual asset license by the UAE Capital Markets Authority (CMA). This license allows it to act as an agent or intermediary to facilitate virtual asset transactions and provide custody services for clients. Once the service is launched, UAE customers will be able to purchase and hold crypto assets through the (((((Capital.com))))) app, with Capital Vault responsible for 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 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 formed a local virtual asset team. This approval follows the CMA's introduction of a virtual asset regulatory framework in April, which expanded the number of regulated activities from 3 to 8 and includes requirements for business conduct, alternative trading systems, anti-money laundering controls, and prudential standards. (Cointelegraph)