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