The Chief Operating Officer of Crypto.com, Mohammed Al-Hakim, said that his company intends to provide more products and services to expand its customer base in the UAE and the Gulf states as a whole, stressing that the UAE is a leading regional center for innovation in the fields of finance and technology. It has one of the highest adoption rates of digital currencies globally.
Al-Hakim expected that the year 2025 would witness a major transformation in the digital currency industry, with the introduction of more regulatory frameworks that provide compatibility and simplify operations.
Products and services
In detail, the Chief Operating Officer of Crypto.com, Muhammad Al-Hakim, said that his company intends to provide more products and services to expand its customer base in the UAE and the Gulf states as a whole, noting that it has published a road map for the year 2025 that shows the size of… Its future targets.
Al-Hakim, who was recently appointed CEO of the company, added in statements to “Emirates Today” that “the path of the roadmap for (Crypto.com) is to provide the most comprehensive set of financial services, and to create a single destination through which users in the sector can simplify their experience.” And making the most of the rewards,” pointing out that the company achieved remarkable growth throughout 2024, partly due to improving the customer experience it provided to them.
He pointed out that his company’s focus is on meeting the needs of all communities and groups in the Emirates, including citizens, residents, institutions, and government services, explaining that his company’s goal is to unify traditional and digital finance in one seamless experience, and to focus on providing new products that include Sharia-compliant financial products. Islamic and stable currencies in dirhams.
Innovation and empowerment
Al-Hakim stressed his company’s commitment to accelerating the adoption of digital currencies, through innovation and empowering the next generation of innovators and entrepreneurs, to develop a more fair and equitable digital system. He explained that this will be achieved in several ways, the first of which is the creation of world-class products, whether independently or through partnerships and cooperation with leading companies. In various sectors.
He pointed out that the second of these methods revolves around providing a comprehensive platform for users that includes a wide range of financial investment services, pointing out that the company is working to integrate products that were exclusive to traditional brokerage companies, into exchange applications and platforms.
He stressed that the company will continue to be the most regulated platform globally in the field of digital currencies, and also affirmed its endeavor to be among the first to launch innovative and pioneering products in that industry to meet the needs of the country’s population, indicating that among those products are the Emirati dirham wallet, and the “MasterCard” program for countries. Gulf, which were recently announced.
Finance and technology
Regarding the current situation of the digital currency market in the Emirates, Al-Hakim said, “The Emirates is a leading regional center for innovation in the fields of finance and technology, and it has one of the highest adoption rates of digital currencies globally.”
He added: “The UAE has set a clear agenda to develop an appropriate and effective system for businesses related to currencies and digital assets,” pointing out that the success of this program is reflected in the number of companies that evaluate their operations under the supervision of the Dubai Virtual Assets Regulatory Authority (VARA) and the Abu Dhabi Global Market (ADGM).
Crypto.com chose the Emirate of Dubai as its regional center for the Gulf and Africa, and obtained a virtual asset services provider license under the supervision of VARA in November 2023.
The company recently completed the acquisition of “Orion Principals Limited”, which is licensed by the Abu Dhabi Global Market (ADGM), in addition to launching the Emirati Dirham Wallet (AED Wallet), giving its users in the Emirates a quick and easy deposit and withdrawal experience in the local currency.
2025 forecast
Al-Hakim expected that the year 2025 would witness a major transformation in the digital currency industry, with the introduction of more regulatory frameworks that provide compatibility and simplify operations, by major countries such as the United States and the European Union.
He pointed out that new partnerships with traditional finance and consumer sectors with trusted names will help increase awareness and build confidence in his company’s growing offerings.
He stressed that rapid changes are an essential feature of the digital assets industry, indicating that his company seeks to benefit from them to ensure its continued success, indicating that the key to dealing with these changes is to ensure the provision of products and services that meet customer demand.
Al-Hakim believes that “digital currencies, as a global product, require a higher level of coordination and cooperation between regulatory bodies, to ensure the provision of interoperable services across different countries.”
He explained that among the main challenges in the sector are fragmented regulatory systems globally, which makes it difficult for companies to provide a unified product and a consistent user experience, and he stated that the primary responsibilities of companies in the sector are to educate policy makers and regulatory bodies.
Rapid development
He pointed out that the digital assets market is developing rapidly, welcoming the new market regulation that focuses on developing an efficient market environment, while ensuring the protection of dealers.
Regarding the company’s future plans, Al-Hakim explained that it is working on an effective and disciplined structure that focuses on providing world-class products and services, stressing that it will continue to direct efforts towards expanding its offers, in line with customer expectations and needs.
He said that there is tremendous potential in the convergence of artificial intelligence with the digital currency industry and its platform in particular, stressing his company’s great interest in using artificial intelligence to improve efficiency in all operations, and pointed out that artificial intelligence is key to improving customer service, which makes it easier for people to join the world of digital currencies. .
He stressed that security is the central priority for all of his company’s operations, noting that it devotes significant resources to ensuring the safety of its systems, in addition to continuing to monitor and improve its approach, in line with regulatory requirements and emerging threats.
Achieve compliance
“Crypto.com” finally obtained (PCI DSS v4.0) certification, and was the first digital currency platform to achieve “SOC 2” compliance. The company also announced, in December 2024, an upgrade to its current program for rewards for discovering security vulnerabilities, in cooperation with “ HackerOne, offering rewards of up to $2 million for reporting security vulnerabilities, is the largest bounty program available with HackerOne, whether in the cryptocurrency industry or elsewhere.