Commercial Bank of Dubai launches dedicated account for virtual asset service providers
Dubai Commercial Bank (CBD) in the United Arab Emirates (UAE) has launched a dedicated account for Virtual Asset Service Providers (VASPs) to manage customer funds and meet regulatory requirements. The CBD launched the dedicated account to comply with regulations from the UAE Central Bank and the Dubai Virtual Asset Regulatory Authority (VARA). CEO Bernd van Linder stated that this is in line with CBD's core banking services and supports the bank's plan to promote digital economic development.
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