United Arab Emirates · Payments & e-money
Foris DAX Middle East FZE
Foris DAX Middle East FZE is a Dubai World Trade Centre free zone establishment that operates the Crypto.com platform in the UAE. The Dubai Virtual Assets Regulatory Authority (VARA) licenses it as a virtual asset service provider, and the Central Bank of the UAE (CBUAE) licenses it as a Stored Value Facility. Its job-applicant privacy notice names Foris Limited of Hong Kong as its parent company. It offers UAE residents crypto-asset trading, derivatives, lending, custody and AED fiat wallets, and in May 2026 it announced the SVF licence for crypto-funded payment of Dubai government fees.
Licences and registrations
Held by Foris DAX Middle East FZE. 1 entry on 1 of the 22 tracked registers, retrieved 24 September 2026.
| Register | Licence | Number | Jurisdiction | Status | Registered | Ends | Activities | Register entry |
|---|---|---|---|---|---|---|---|---|
| CBUAE Register of Licensed Financial Institutions - Stored Value FacilityCentral Bank of the UAE (CBUAE) | Stored Value FacilityE-Money / Stored Value Institution | 05.01.01.019.2026.02 | United Arab Emirates | Active | — | — |
|
Search the register ↗ |
- Each licence applies in the country of the regulator that granted it.
- Registers are tracked in 37 countries. Licences granted elsewhere are not recorded here.
Swift network
Swift’s ISO 9362 BIC directory
Holds no BIC in Swift’s directory. No LEI is matched to this entry, and BICs are linked by LEI only.
Overview
Researched 29 Sep 2026 · Sources
Employees
Not published
Ownership
Group subsidiary
Foris Limited
Firm type
Crypto exchange or broker
Trades as Crypto.com
- Ownership
- The firm belongs to the Crypto.com group, and its job-applicant privacy notice names Foris Limited, Hong Kong, as its parent company.
- Direct parent
- Foris Limited, Hong Kong SAR China
- Head office
- WeWork, 08-143-021&022, Floor 8, The Offices 4, One Central, Dubai World Trade Center, Dubai, United Arab Emirates
- Company register
- Dubai World Trade Centre free zone registration 2125
- Name in the local language
- فوريس داكس ميدل ايست م.م.ح
Online
- Websites & references
- crypto.com ↗
crypto.com ↗ Crypto.com group website
crypto.com/exchange ↗ Crypto.com Exchange (trading venue)
status.crypto.com ↗ status page - Official social accounts
- LinkedIn ↗ · X ↗ · Facebook ↗ · Instagram ↗ · Discord ↗ · Reddit ↗
Sources · 10 pages consulted
- centralbank.ae/media/hw0lreyi/cb-register-august-2026.pdf
- vara.ae/en/licenses-and-register/public-register/
- crypto.com/document/foris-dax-me-fze-public-disclosure
- crypto.com/en-ae/crypto/buy
- crypto.com/en/privacy/uae
- crypto.com/us/licenses
- crypto.com/us/company-news/cryptocom-receives-uae-stored-value-facilities-license-to-enable-virtual-
- crypto.com/en/company-news/foris-dax-middle-east-becomes-the-first-virtual-asset-service-provider-to
- crypto.com/en/company-news/cryptocom-unveils-global-retail-services-from-dubai-hub
- crypto.com/privacy/job-applicant-privacy-notice-foris-dax-middle-east-fze.pdf
Authorisation
Researched 29 Sep 2026 · Sources
- Operates under
- Its own licences
VARA licenses the firm as a virtual asset service provider (VL/23/10/003) for exchange (including derivatives), broker-dealer, management and investment, and lending and borrowing services. The CBUAE licenses it as a Stored Value Facility under number 05.01.01.019.2026.02.
| Authority | Licence or registration | Number | Held | Status | Source |
|---|---|---|---|---|---|
| Central Bank of the UAE (CBUAE) United Arab Emirates | Stored Value Facility | 05.01.01.019.2026.02 | In its own name | Active | centralbank.ae ↗ |
| Dubai Virtual Assets Regulatory Authority (VARA) United Arab Emirates | VASP Licence (Exchange Services including VA Derivatives Trading, Broker-Dealer Services, Management and Investment Services, Lending and Borrowing Services) | VL/23/10/003 | In its own name | Active | crypto.com ↗ |
| Capital Market Authority (UAE) United Arab Emirates | CMA registration of VARA-licensed VASP | CMA-VASP-1101010-0012 | In its own name | Active | — |
Licences and registrations the research found, at home and abroad, as the firm and its regulators publish them. The Licences and registrations card shows the entries on the registers the directory tracks.
Partners and safeguarding
Researched 29 Sep 2026 · Sources
- Safeguarding
- Segregated safeguarding accountsThe firm states that client virtual assets are segregated from its own balance sheet and held for clients' exclusive benefit, and that customers get individual electronic money accounts at Standard Chartered Bank in the UAE.
- Crypto-asset custody
- Held by the firmThe firm holds client virtual assets in custodial app wallets, using cold storage, hardware security modules and multi-party computation, and says it does not pledge or lend them without opt-in consent.
- Safeguarding bank · Settlement bank
- Standard Chartered Bank (UAE) United Arab Emirates
Banks and regulated firms the firm says hold its customers’ money, issue its cards, sponsor its accounts or settle its payments, as it discloses them in its terms and notices.
Products and markets
Researched 29 Sep 2026 · Sources
It runs a VARA-licensed exchange and brokerage with derivatives, lending and custody, offers AED fiat wallets, and under its CBUAE SVF licence it processes crypto-funded payments of Dubai government fees settled in UAE dirhams.
It serves eligible UAE residents under its Dubai licences, and in August 2024 Crypto.com said it would offer global retail services from its Dubai hub.
- Sells to
- Consumers · Enterprises · Public sector
- Serves customers in
- United Arab Emirates
Leadership
Researched 29 Sep 2026 · Sources
- Executive
- Mohammed Al Hakim President and General Manager, UAE & Bahrain; Responsible Individual
- Executive
- Wenqi Li Responsible Individual
Recent events
Researched 29 Sep 2026 · Sources
-
Licence
The CBUAE granted the firm a Stored Value Facility licence, which Crypto.com announced on 11 May 2026.
crypto.com ↗ -
Licence
The CBUAE gave the firm in-principle approval for a Stored Value Facility licence, valid for one year.
crypto.com ↗ -
Other
Crypto.com announced that Standard Chartered would provide banking for the client money accounts of its Dubai-based retail services.
crypto.com ↗
Compliance-relevant events of the last three years, newest first: fines and enforcement, investigations, security incidents, licence changes, funding rounds, acquisitions and leadership changes. Each links to its source.
Identifiers
- Licence no. · CBUAE-SVF
- 05.01.01.019.2026.02
- BIC
- Holds no BIC in Swift’s directory
- LEI
- No LEI mapped
- Elucidate firm ID
- df57b8b9775d
Profile
- Type
- Payments & e-moneyPayment institutions, e-money and stored-value issuers, and account-information providers. Licensed under payment-services law (e.g. PSD2 in the EU and UK, the Payment Services Act in Singapore). Taken from the licences on the tracked registers.
- Regulation
- Prudential licenceAuthorised with capital, safeguarding and conduct requirements, e.g. an authorised payment or e-money institution in the EU or UK, a major payment institution in Singapore, or a MiCA crypto-asset service provider.
- Main licence class
- E-Money / Stored Value Institution
- Activities
- E-money / stored value
- Licensed in
- United Arab Emirates · Middle East & North Africa
- First registered
- Not published
Types come from Swift’s BIC classification, the licences on the 22 tracked registers, and the ECB and FSB bank lists. Most banks outside the euro area appear as financial institutions, because their supervisors’ registers are not tracked yet.
Ownership and group
GLEIF relationship records
No LEI is matched to this entry, so GLEIF relationship records cannot be linked.
Addresses
- Address on the register
- Dubai
- Country
- United Arab Emirates
ISO 20022 identification
As an agent in a Swift cross-border payment message (CBPR+)
This institution holds no BIC. A CBPR+ message identifies it by name and postal address, and may add its LEI or a clearing code.
- Identified by
- Name and postal address. No LEI or clearing code is mapped in the directory
- Postal address
- Structured: town and country
<FinInstnId>
<Nm>Foris DAX Middle East FZE</Nm>
<PstlAdr>
<TwnNm>Dubai</TwnNm>
<Ctry>AE</Ctry>
</PstlAdr>
</FinInstnId>CBPR+ identifies the instructing and instructed agents by BIC only. An institution without a BIC can be the debtor, creditor or an intermediary agent.
The values are as published by the register. Check them against your own records before use.
Sources & method
Register entries come from the public registers of financial regulators, standardised into one taxonomy. LEIs are matched through GLEIF, and a BIC is linked only through a shared LEI.
An institution missing from these registers is not necessarily unregulated.
Register entries are not matched against the OFAC or EU sanctions lists. Where the legal entity also holds a BIC, the matches for that BIC are on its page. Always screen against the official lists.
An institution is one entry in the directory: a BIC8 in Swift’s directory, or a firm on a tracked register that holds no BIC. Licences held by an institution with a BIC are shown on its page.
Read the methodology →Register for this page
- CBUAE Register of Licensed Financial Institutions - Stored Value Facility—Central Bank of the UAE (CBUAE) · source ↗ as at 24 September 2026
- Overview, authorisation, partners, products, leadership and events—researched per institution by an AI model with web search, from the firm's own website, terms and filings, regulators' registers and notices, company registers and news. Licences, partners, figures, people and events link to their source, and each card shows the research date. AI research can be wrong or out of date, so check key facts at the source.
Assess the financial crime risk behind a licence
A licence records what an institution is authorised to do; it does not assess it. The Elucidate FinCrime Index (EFI) is an independent score of the financial crime risk of banks and payment institutions.
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