CoinMENA Receives Virtual Asset Service Provider License from Dubai’s VARA
CoinMENA FZE, a subsidiary of the Bahrain-based Bitcoin exchange, has been granted a Virtual Asset Service Provider (VASP) license by Dubai’s Virtual Asset Regulatory Authority (VARA). This is the seventh VASP license issued by the Dubai regulator. The license will enhance accessibility to the crypto market in the United Arab Emirates (UAE), allowing CoinMENA to provide local banking services and instant money deposits and withdrawals to customers in the region.
Enjinstarter’s AYA Platform Granted Conditional License by VARA
In its efforts to establish the UAE as a hub for blockchain technology, VARA has granted a conditional license to Enjinstarter’s AYA platform. This license allows the platform to offer crypto asset and investment services in the region. Enjinstarter’s AYA platform operates as a blockchain launchpad, providing access to NFT-powered music, gamified utility protocols, metaverse, and other blockchain-centric services.
Fasset Secures Full VASP License from VARA
Fasset, a crypto brokerage marketplace, has secured a full VASP license from VARA. This license enables Fasset to offer real-world value to its users globally by providing tokenized bonds and stocks. Acquiring a full license from VARA involves a three-step process: securing a provisional permit, obtaining a preparatory license, and finally receiving an operational license.
Hot Take: Bitcoin Exchange CoinMENA Receives Operating License From Dubai’s VARA
CoinMENA FZE has obtained a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Asset Regulatory Authority (VARA). This milestone will improve accessibility to the crypto market in the UAE, allowing CoinMENA to offer local banking services and instant money transfers. With regulatory compliance being a priority for CoinMENA, the VASP license positions the exchange to better serve retail and institutional investors in Dubai while reducing transaction costs. Dubai’s VARA has played a crucial role in providing a robust supervisory framework, making the city a center for crypto growth and innovation. CoinMENA joins other blockchain-backed businesses in securing regulatory licenses in the region.
By
By
By
By