Singapore-based blockchain and cryptocurrency trading platform Crypto.com has received its MVP preparatory licence from Dubai’s Virtual Assets Regulatory Authority (VARA). Meanwhile, Indonesia-based Ajaib said the number of bitcoin transactions on its platform increased by 600% in three days.
Crypto.com gets MVP preparatory licence in Dubai
Singapore-based blockchain and cryptocurrency trading platform Crypto.com has received a minimal viable product (MVP) preparatory licence from Dubai’s Virtual Assets Regulatory Authority (VARA).
With the MVP licence Crypto.com has moved closer to getting an operational licence. Crypto.com received the initial provisional approval from VARA in June last year. Following the preparatory stage and successful receipt of the operational licence, Crypto.com intends to offer a full suite of institutional services.
VARA is in charge of regulating, supervising, and overseeing virtual assets in Dubai.
Bitcoin transactions spike on Ajaib
Indonesia-based online brokerage platform Ajaib has seen the number of bitcoin transactions on its platform increase by 600% between March 17 and 19, TechinAsia reported on Tuesday.
The spike coincided with bitcoin reaching a nine-month high of $27,000 on March 17, the report added.
Ajaib became a unicorn in 2021 and is currently the third-largest brokerage by the number of transactions in Indonesia, with over 1 million investors on the platform.
The company acquired 554.4 million shares in Bank Bumi Artha through its subsidiary PT Takjub Finansial Teknologi in November 2021. Subsequently, the company increased its stake to 40% last year, reported DealStreetAsia.
Ajaib raised $153 million in a Series B financing round led by DST Global and joined by Ribbit Capital, Li Ka-shing’s Horizons Ventures, ICONIQ Capital, IVP, Insignia Ventures, Alpha JWC, and SoftBank Ventures Asia, in 2021, becoming Indonesia’s seventh unicorn, just two and a half years since its launch.