Capex.com receives in principle approval for crypto license in UAE

 

Capex.com, which already holds a brokerage license in Abu Dhabi’s ADGM FSRA has now been granted an in principle approval for a cryptocurrency license from Abu Dhabi Global Markets.

CAPAX.com’s Founder and CEO, Octavian Pătrașcu, revealed that the new license will strengthen the brokerage platform’s cryptocurrency offerings in the lucrative Middle East and the North Africa (MENA) region. He stated on LinkedIN, “We are happy that we can start this new vertical under Capex.com and become closer to our main goal of offering a powerhouse of trading for our users, under one roof.”

Crypto approval came in addition to the broker’s existing license from the ADGM Financial Services Regulatory Authority (FSRA), gained in 2020, with which it offers traditional trading instruments.

Capex platform's offerings are primarily trading services with forex and contracts for differences (CFDs) instruments of other popular asset classes. The platform quickly added crypto products as well, with the rising popularity of the asset class. It even expanded its cryptocurrency portfolio over the years, adding more assets.

The brokerage brand also strengthened its presence in the MENA region with several prominent hirings. Earlier this year, it added Fadi Reyad as a Market Analyst specific for the MENA region and Abdelhadi Laabi as MENA Chief Marketing Officer.