financemagnates.com
Three months after receiving preliminary authorization, Bitpanda has now secured a full Broker-Dealer license from the Dubai Virtual Assets Regulatory Authority (VARA), allowing it to offer its services in the UAE.
This marks the European exchange's first fully licensed expansion outside of the region. Bitpanda's new license enables it to introduce a wide range of virtual assets to UAE investors, including over 500 cryptocurrencies, crypto indices, and savings plans.
UAE's Crypto-Friendly Environment Draws Bitpanda
"The UAE is one of the most forward-thinking markets for digital assets, and VARA sets a new standard for innovation and investor protection. This license allows us to bring our trusted, regulated platform to a new audience," Fabian Reinisch, the General Counsel at Bitpanda Group, said.
"We obtained approval in record time, and I believe that is a testament to the decade of experience our teams have working in the digital asset space and our commitment to the highest regulatory standards."
The UAE has rapidly emerged as a top destination for crypto firms due to its regulatory clarity and investor-friendly policies. With Bitpanda's entry, local investors will gain access to one of the most comprehensive digital asset offerings in the market.
The company already holds multiple licenses in Europe, including a MiCAR license from Germany's BaFin, registration with the UK's Financial Conduct Authority (FCA), and other regulatory approvals across different markets.
With its license secured, Bitpanda is setting up operations at the DMCC Crypto Centre in Dubai, where a regional team is already in place. The company plans to roll out onboarding for UAE investors in the coming months, offering access to its full suite of digital asset services.
Expect ongoing updates as this story evolves.