Dubai crypto market hits 50 licensed firms after new VARA approval
A VARA spokesperson told Cointelegraph that holding an active license does not necessarily mean a firm has completed its commercial launch. Newly licensed companies may go through a controlled operationalization period before offering services or onboarding customers.Related: Senate Dems urge probe into $500M crypto deal between Trumps, UAEAt the end of 2025, VARA classified 39 licensed VASPs as fully operational. The spokesperson said the regulator is validating an updated figure for 2026.Dubai's bid to attract crypto firmsDubai has spent the past several years positioning itself as a global hub for digital asset businesses.
- ▪A VARA spokesperson told Cointelegraph that holding an active license does not necessarily mean a firm has completed its commercial launch.
- ▪Newly licensed companies may go through a controlled operationalization period before offering services or onboarding customers.Related: Senate Dems urge probe into $500M crypto deal between Trumps, UAEAt the end of 2025, VARA classified 39
- ▪The spokesperson said the regulator is validating an updated figure for 2026.Dubai's bid to attract crypto firmsDubai has spent the past several years positioning itself as a global hub for digital asset businesses.
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Written by Ezra Reguerrastaff writerReviewed by Yohan Yunstaff writerWritten by Ezra Reguerrastaff writerReviewed by Yohan Yunstaff writerDubai crypto market hits 50 licensed firms after new VARA approval Latest NewsPublishedJun 29, 2026Dubai’s VARA has licensed its 50th crypto firm, though only 39 VASPs were fully operational at the end of 2025 as the emirate’s regulated market continues to expand.The Virtual Assets Regulatory Authority (VARA), Dubai's crypto regulator, has granted its 50th virtual asset service provider (VASP) license.On Monday, VARA said its latest approval went to tokenized assets platform Tribe Tokenisation FZE.The milestone provides one measure of the growth of Dubai's crypto licensing regime, though license totals alone do not show how many firms are operational or…
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