Nomura, CoinShares, Ledger joint venture Komainu wins Dubai crypto license

    Komainu completed the final step in VARA’s licensing process nearly 10 months after securing its MVP license in November 2022. Komainu, a joint venture between Nomura and crypto firms CoinShares and Ledger, has received a full operating license from Dubai’s Virtual Asset Regulatory Authority (VARA). The United Arab Emirates has opened its door to crypto…

    Binance to offer crypto broker-dealer services in Dubai with new license

    Binance is now officially allowed to offer crypto services to institutional and qualified retail investors in Dubai. Major cryptocurrency exchange Binance has reached another milestone in relationships with regulators in the United Arab Emirates by winning a new license in Dubai. Binance’s Dubai-based subsidiary, Binance FZE, has obtained an operational minimum viable product (MVP) license…

    Crypto mining hardware retailer Phoenix Technology mulls IPO in UAE: Report

    A mainstream media report highlighted that the mining hardware firm Phoenix Technology is planning to go public in Abu Dhabi, UAE. Crypto mining hardware provider Phoenix Technology is reportedly starting discussions to conduct an initial public offering (IPO) in the United Arab Emirates, according to a report by Bloomberg. The Bloomberg report cites anonymous sources who explained that…

    Bybit’s MVP license in Dubai ‘very restricted,’ CEO says

    Once fully licensed in Dubai, Bybit plans to run a full-scope exchange, offering crypto lending, payments, investment and other services. Cryptocurrency exchange Bybit already operates out of Dubai, but its current licensing doesn’t allow the firm to serve all customers, according to its CEO. On June 27, Bybit FinTech FZE, a subsidiary of the global…

    Dubai’s VARA approves OKX ‘preparatory’ license as part of exchange’s expansion plans

    The Middle Eastern arm of the exchange said it had opened an office in the Dubai World Trade Center and planned to increase its staff to 30 people. The Middle Eastern arm of cryptocurrency exchange OKX reported Dubai’s Virtual Assets Regulatory Authority (VARA) had granted the firm a minimal viable product preparatory license as part…

    UAE’s federal financial regulator opens licensing applications for VASPs

    Companies that have already acquired licenses from the country’s financial free zones are exempted from the requirement of registering with the regulator. The federal financial regulatory agency of the United Arab Emirates (UAE) has announced that it will start receiving licensing applications for firms that want to provide virtual asset services within the country. The…