Close Menu
AlexaBlockchain
  • News
  • Press Releases
    • Submit Press Release
  • Adoption
  • Funding
  • Interview
  • Policy
  • Explained
    • Bitcoin Halving 2024: Will it Trigger the Next Bull Run?
    • Everything You Wanted to Know About Bitcoin But Were Too Afraid To Ask
    • Cryptocurrency: what makes it so popular?
    • Top Five Crypto Scams And How To Avoid Them
    • Cloud Mining Explained
    • What are NFTs?
    • What is a Web3 Browser?
    • How To Build High Quality Crypto Backlinks
  • About
  • Advertise
  • Trending
    • #BitcoinHalving
    • #CloudMining
    • #Web3.0
    • #Metaverse
    • #NFTs
    • #PlayToEarn
    • #DeFi
    • #BlockchainTechnology
    • #Bitcoin
    • #Cryptocurrency
    • #DigitalAssets
Facebook X (Twitter) Instagram
Friday, June 20
  • Advertise
  • Crypto PR
  • Partner
  • Submit Press Release
  • Contact Us
X (Twitter) Facebook LinkedIn Instagram
AlexaBlockchain
Banner
  • News
  • Press Releases
    • Submit Press Release
  • Adoption
  • Funding
  • Interview
  • Policy
  • Explained
    • Bitcoin Halving 2024: Will it Trigger the Next Bull Run?
    • Everything You Wanted to Know About Bitcoin But Were Too Afraid To Ask
    • Cryptocurrency: what makes it so popular?
    • Top Five Crypto Scams And How To Avoid Them
    • Cloud Mining Explained
    • What are NFTs?
    • What is a Web3 Browser?
    • How To Build High Quality Crypto Backlinks
  • About
  • Advertise
  • Trending
    • #BitcoinHalving
    • #CloudMining
    • #Web3.0
    • #Metaverse
    • #NFTs
    • #PlayToEarn
    • #DeFi
    • #BlockchainTechnology
    • #Bitcoin
    • #Cryptocurrency
    • #DigitalAssets
AlexaBlockchain
You are at:Home » Crypto Infra firm Aquanow Enters into UAE Market with VASP License
News

Crypto Infra firm Aquanow Enters into UAE Market with VASP License

Aquanow's VASP license enables it to offer a comprehensive range of services including broker-dealer, lending and borrowing, and management and investment services, positioning it as a significant player in the Emirate's fintech landscape.
Rakhi ShahBy Rakhi ShahFebruary 12, 2024Updated:February 12, 2024No Comments3 Mins Read
Twitter Facebook LinkedIn Reddit Email WhatsApp
Aquanow Enters into UAE Market with VASP License
Aquanow Enters into UAE Market with VASP License. Photo: Phil Sham, Co-founder and CEO of Aquanow.
Share
Twitter Facebook LinkedIn Pinterest Reddit Telegram Email WhatsApp

Quick Take

Aquanow, a leading crypto infrastructure provider, secures a Virtual Asset Service Provider (VASP) license from Dubai’s regulatory authority, marking a significant milestone in its international expansion plans. The license, subject to regulatory conditions, positions Aquanow as a comprehensive VASP in the Emirate, aligning with Dubai’s vision for financial innovation.

Aquanow gets a Virtual Asset Service Provider (VASP) license from Dubai’s VARA

Aquanow, a crypto infrastructure provider, has secured a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). While the announcement signals a significant step forward for the company’s expansion into international markets, it comes with certain caveats and regulatory obligations that must be met before operational commencement.

The Vancouver-based firm, renowned for its collaborative ventures with global financial institutions, sees this license as a strategic maneuver in line with Dubai’s ambition to become a leading global financial center. However, Aquanow’s VASP license remains non-operational until it fulfills all prerequisites and localization requirements outlined by VARA. This process includes regulatory re-verification and approval, indicating a meticulous scrutiny by regulatory authorities before granting operational status.

Established in 2018, Aquanow has established itself as a key player in the crypto landscape, facilitating a diverse array of crypto use cases and shaping the strategies of its clientele.

With a staggering four-year revenue growth rate of 1,842%, as recognized by the Deloitte Technology Fast 500 list, the company boasts an impressive track record in the North American financial technology sector. Currently serving over 300 institutional clients across 50 countries, Aquanow’s ambitions for international expansion align seamlessly with Dubai’s vision for financial innovation and technological advancement.

Phil Sham, Co-founder and CEO of Aquanow, expressed enthusiasm for the opportunities presented by Dubai’s regulatory framework, stating, “Dubai’s D33 vision of emerging as a top global financial center and major hub of innovation, testing, and commercialization of new technologies was a key factor in making the Emirate the centerpiece in our international growth efforts.” Sham emphasized the company’s commitment to contributing to the region’s advancements in virtual assets while upholding rigorous consumer protections.

Aquanow’s VASP license from VARA encompasses a wide range of services, including broker-dealer, lending and borrowing, and management and investment services, positioning the company as one of the most comprehensive VASPs in the Emirate. The approval underscores Dubai’s commitment to fostering a robust regulatory environment in the virtual assets industry, mirroring global trends towards heightened oversight and compliance standards.

As Aquanow progresses towards fulfilling the remaining conditions stipulated by VARA, the crypto community awaits further developments, anticipating the company’s role in shaping Dubai’s burgeoning fintech landscape and contributing to the region’s status as a leading innovator in the virtual assets space.

Read Also: Fasset Secures VASP License in Dubai Ahead of Series B Round

Aquanow Crypto Dubai Phil Sham United Arab Emirates VARA
Share. Twitter Facebook LinkedIn Reddit Pinterest Tumblr Telegram Email WhatsApp
Rakhi Shah
  • Website

R Shah is a journalist and writer based out of Delhi, India. She is an Economics graduate from Delhi University. She can be reached at R.Shah@alexablockchain.com.

More AlexaBlockchain

Arab Bank Switzerland Launches First Bitcoin Yield Product for Wealthy Clients with XBTO Partnership

June 19, 2025

The RARI Foundation Just Proved NFTs Are Evolving—Not Fading

June 18, 2025

LERN360.ai Launches Seed Round to Build the “Coursera of On-Chain Learning”

June 17, 2025

Tristan Thompson Joins AxonDAO as Board Member and Partner

June 17, 2025

Human Passport Brings Privacy-First Sybil Resistance to Base

June 13, 2025

SynFutures Launches Builder Program to Expand Modular DeFi Ecosystem

June 11, 2025
Add A Comment

Comments are closed.

Don't Miss

Arab Bank Switzerland Launches First Bitcoin Yield Product for Wealthy Clients with XBTO Partnership

The RARI Foundation Just Proved NFTs Are Evolving—Not Fading

LERN360.ai Launches Seed Round to Build the “Coursera of On-Chain Learning”

Tristan Thompson Joins AxonDAO as Board Member and Partner

Trending Topics
  • Blockchain News
  • Blockchain Technology
  • Blockchain Platforms
  • Blockchain Regulation
  • Bitcoin News
  • Ethereum News
  • Ripple News
  • Tezos News
  • CBDC
  • NFTs
Featured Companies
  • Binance
  • Tech Mahindra
  • Huobi
  • Efforce
  • Future FinTech Group
  • SuburbanColors
  • Launchpool Labs
  • Lucky Crab Club
  • SIMBA Chain
  • Bulldog Law
Stay Updated
  • Events
  • Newsletters
  • Follow
  • Follow on Google News
  • Blockchain Directory
Get In Touch
  • Crypto PR
  • Advertise
  • Partner
  • About
  • Masthead
  • Careers
  • Write for Us
  • Submit Press Release
  • Submit Guest Post
  • Contact US
Copyright © 2025. AlexaBlockchain
  • About
  • Advertise
  • Crypto PR
  • Submit Press Release
  • Write for Us
  • Careers
  • Privacy Policy
  • Affiliate Disclosure
  • Disclaimer
  • Contact

Type above and press Enter to search. Press Esc to cancel.