Crypto Exchange CEEX Expands Global Footprint, Targets Dubai Crypto Market Entry

CEEX applies for a Dubai VASP license under VARA, aiming to expand into the UAE crypto market with regulatory compliance.

Finjuris

Sep 30, 2025 - 17:20

Oct 1, 2025 - 15:13

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In a significant step that underscores its aspirations for regional supremacy, crypto exchange CEEX has officially requested approval for a Virtual Assets Service Provider (VASP) license in Dubai and thus enabling a more extensive foray into Middle Eastern markets. The news comes on the heels of regulatory clarity emerging in the United Arab Emirates, increased institutional interest in crypto across the Gulf region, and growing competition among exchanges seeking to diversify outside of Asia and Europe.

CEEX Files for Dubai VASP License

CEEX has begun the VASP license application process under Dubai's Virtual Assets Regulatory Authority (VARA), according to a press release on The Manila Times / TMT Newswire announcing its intention to expand its operations into the Middle East crypto ecosystem.

With a formal license, CEEX can customize products, compliance, and KYC/AML policies to the UAE and Gulf region.

New capital flows: The UAE, particularly Dubai, is a hub for family offices, fintech investment, and institutional investors interested in digital assets.
Competitive positioning: With competitors like HashKey already receiving an approval (e.g., in-principle VASP license) in the UAE, CEEX is taking action to preserve its share of this strategic geography.

CEEX also confirmed the news via its official handle:

“Big move from #CEEX: We have officially applied for a Dubai VASP license under VARA — a pivotal step to expand our presence in the Middle East crypto market.”

The Market & Regulatory Background in the UAE

The UAE has established itself as a jurisdiction increasingly welcoming to digital assets. Dubai’s VARA has been establishing frameworks, licensing pathways, and operational regulations for virtual asset service providers since 2024–2025, providing clarity and therefore comfort to start-ups and exchanges.

For cryptocurrency exchanges looking to expand into the Middle East, Dubai has many value propositions:

Regulatory clarity: VARA’s licensing framework distinguishes legitimate operators from unregulated operators.
Strong capital inflows: The Gulf has vast liquidity from both private high-net-worth individuals and sovereign or institutional capital.
Strategic hub: Dubai is internationally recognized as a business hub. Its beneficial tax situation, business free zones, and good connectivity are an attractive regional hub.
Trend acceleration: The region is witnessing greater adoption of cryptocurrency, more fintech partnerships, and the establishment of institutional infrastructure which gives momentum to early entry.

However, the path to licensing is rigorous. VARA expects several conditions, including strong compliance, risk management, segregation of customer funds, cybersecurity, and ongoing reporting. Any exchange that succeeds will need to satisfy expectations for both governance and operational standards.

CEEX's Global Expansion Plan: Beyond Asia

Based in Singapore, CEEX has steadily developed its footprint in Asia, particularly in markets like Southeast Asia and South Asia. Given the growing regulatory scrutiny and competition in many of the major Asian jurisdictions, it is probable that expansion into new regions has become an urgent and strategic priority.

Pursuing the Dubai license is following a trend. Exchanges and crypto companies are pursuing business in other jurisdictions as a way to both reduce concentration risk and expand into new users. It can also socially hedge against regulatory uncertainty from their home jurisdiction.

By receiving the VARA license, CEEX would secure many benefits, including:

Ability to onboard UAE / GCC users under local regulation
Credibility and trust within institutions and high-net-worth users
Partnership capabilities with local fintech, banks, and payment gateways
Penetrate further in the MENA region (e.g., Saudi Arabia, Bahrain, Oman)

In doing this, CEEX is not alone, as many digital asset firms seek to enter crypto regulation in the UAE, such as HashKey, which received in-principal approval for a Dubai VASP license earlier in 2022.

Challenges & Risks Ahead

As promising as it looks, CEEX has several challenges:

Uncertainty of Obtaining Regulatory Approval: It is not a guarantee that CEEX will receive the final VARA license. The regulatory bar is high, and VARA can impose additional criteria or entirely refuse a license if it does not comply.
Competitive Landscape: Well-established exchanges and players in the fintech space will be jockeying for their own Dubai license next. CEEX will have brand competition and market share to contemplate with local, regional, and global brands.
Localization and Partnerships: To successfully operate in the UAE, CEEX will have to integrate and become part of the banking infrastructure, the payment rails or both. The time required to develop any related partnerships and/or ecosystems is difficult to estimate.

Regulatory Alignment Across Jurisdictions

CEEX will have to ensure that its activity in other parts of the world is not likely to breach compliance with its Dubai arm. The risk of operating across jurisdictions is not trivial.

Market Volatility & Sentiment: Crypto is volatile and very high beta. It is subject to macro global conditions, meaning regulation and pressure of sentiment from investors is paramount. Timing makes a difference.
Holding Operational Costs: Onboarding new local presence, paying local legal or compliance staff, engaging in infrastructure, and now having finite resources and time.

Steps for CEEX to Take Moving Forward

To enhance its likelihood of success, the steps CEEX should take are:

Strong compliance framework: Increase KYC/AML, risk controls, auditability, and management to meet VARA standards
Regulatory engagement: Continue an ongoing conversation with VARA and respond quickly to any feedback
Local partnerships: Develop relationships with UAE-based banks, payment processors, local fintechs, and potential strategic investors
User localization: Localize UI/UX, language support, customer support, the assets offered, and the deposit/withdrawal methods for consumers in the UAE
Security and custody: Emphasize strong custody of assets, insurance, and cold storage protocols to create trust for retail and institutional clients
Marketing and brand building: Utilize events, PR, and engaging influencers/crypto community to launch the CEEX brand into the Gulf region

If CEEX successfully acts on these steps, it may be cemented as one of the leading bridges between Asian crypto liquidity and Gulf capital flows.

Impacts of CEEX on the Crypto Industry

CEEX's launch exemplifies broader trends in the crypto space:

Geographic diversification is essential: Exchanges can no longer target growth solely from traditional markets (the USA, Europe, and China). Instead, growth is likely to emerge from places like the Middle East, Latin America and Africa, where crypto adoption rates are ramping up.
Regulatory exclusivity is a differentiator: Exchanges that proactively seek out licensing will attract some level of institutional trust and credibility above their peers. Moreover, regulatory compliance is fast evolving into a gating issue.
The emergence of regional hubs: Cities like Dubai, Singapore, and Hong Kong are beginning to evolve into crypto hubs and lure firms that are looking for both legitimacy and connectivity.
Capital allocation re-routed: Gulf sovereign wealth funds, family offices, and regional investors have begun to develop their allocation to crypto. The exchanges in the Middle East can be the necessary infrastructure for much-needed venture capital-like flows.
Consolidation and partnerships: Smaller exchanges may seek to either merge or partner with each other to share expenses, particularly as it means less expense in meeting the demands of regulation or scaling up their operations.

What to Keep an Eye On: Major Milestones & Metrics

As CEEX makes its way into Dubai, keep an eye on:

When VARA grants CEEX a full license
The list of assets (coins/tokens) CEEX is authorized to list in the UAE
CEEX’s liquidity/trading depth for UAE trading pairs
Integration of new banks & local payment systems
Marketing strategies and user growth in Dubai / GCC countries
Any regulatory updates or announcements by VARA or UAE authorities

If CEEX can achieve compliance at a speed that is competitive, it may become one of the larger players in the crypto market being developed across the Middle East.

CEEX’s action to pursue a VASP license in Dubai is not simply a regulatory filing but also a clear indicator of the exchange’s long-term strategic aspirations. Dubai has positioned itself as a global innovation hub for finance and digital assets, and CEEX’s pursuit highlights both the opportunity and complexity of working in one of the fastest-moving markets in the world.

If CEEX manages to secure the license, it will have permission to operate, and it will gain legitimacy in a global region that values regulatory clarity and institutional confidence. This could lead to future partnerships with banks, fintechs, family offices, or sovereign investors, who have been patiently waiting for the right mix of regulatory environment and market structure. By utilizing the future-mindedness of Dubai’s regulatory framework, CEEX may become the preferred partner to those wanting to allocate capital into crypto in a compliant, safe, and scalable way.

The timing is also notable. Global crypto markets are undergoing a transition, moving from a primarily speculative phase to one where institutional adoption, regulated platforms, and compliant infrastructure are essential elements. In this environment, exchanges that can prove themselves in tough regulatory markets will be the ones that thrive. CEEX’s bet on Dubai is not just about attracting retail traders in the Gulf, but about creating a bridge between Asia’s liquidity, the Middle East’s capital strength, and the global digital asset economy.