That announcement came Monday (May 11) after the UAE granted the cryptocurrency platform a stored value facilities (SVF) license, making it the first such virtual assets service provider (VASP) to be given this specific regulatory authorization from the country’s central bank.

“To be the first VASP to receive this license is an incredible achievement and proves our strong commitment to compliance and to advancing the regulated digital assets ecosystem in the UAE,” Eric Anziani, president and chief operating office of Crypto.com, said in a news release.

“We are always developing our presence in this…