“We look forward to working with VARA to finalize our operations and commence regulated custody services soon,” states Amir Tabch, CEO of Liminal Custody Solutions Middle East.
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Virtual Asset Regulatory Authority (VARA)
VARA is a regulatory authority established in 2021 to oversee virtual assets and related activities in the Dubai International Financial Centre (DIFC). Its mission is to create a regulatory framework that promotes innovation and protects investors. VARA issues licenses to virtual asset service providers and monitors compliance with regulations. It also collaborates with other regulatory bodies to develop best practices and standards for the virtual asset industry.
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“Our goal is to empower people to have universal access to financial services, so they have more opportunities to build and manage their wealth,” states Fasset CEO, Mohammad Raafi Hossain.
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.
“It will enable Fasset users to confidently and securely send their assets from regions such as the GCC to Asia,” states Fasset’s CEO, Mohammad Raafi Hossain.
This license will enable OKX Middle East to undertake MVP operations within the VARA regime, allowing it to offer spot, derivatives, and fiat services.
MaskEX offers a user-friendly interface and advanced trading tools, making it easy for both novice and experienced traders to navigate the crypto market.
The MVP licence will allow Komainu to offer an approved range of virtual asset related services to institutional investors in Dubai.
Cheng will invest in projects to integrate crypto into fashion, media and entertainment via Calvin Cheng Web3 Holdings FZE.