New UAE Bank Accounts Designed for Virtual Asset Service Providers (VASPs)
The Commercial Bank of Dubai (CBD) has launched specialized accounts for Virtual Asset Service Providers (VASPs) to manage client funds, aligning with regulatory standards from the Central Bank of the UAE and the Dubai Virtual Assets Regulatory Authority (VARA).
CEO Bernd van Linder stated that this initiative supports CBD’s vision to advance the digital economy and strengthen the UAE’s position as a global hub for virtual assets. Laser Digital is the first VASP to utilize these new accounts, marking a significant step in CBD’s efforts to innovate and support the growing virtual asset sector.
Clever Robot News Desk 3rd August 2024
