ARP Digital receives Dubai VARA broker-dealer license
DUBAI, Aug. 12. ARP Digital has obtained a broker-dealer license from Dubai's Virtual Assets Regulatory Authority, clearing it to offer regulated conversions of digital assets and stablecoins into UAE dirhams. The approval extends the company's Gulf footprint beyond Bahrain, where the firm held its prior licensed presence in the region.
Key takeaways
- ARP Digital has obtained a broker-dealer license from Dubai's Virtual Assets Regulatory Authority (VARA).
- The license clears ARP Digital to offer regulated conversions of digital assets and stablecoins into UAE dirhams.
- The approval extends the company's Gulf presence beyond Bahrain, where it previously held its regional license.
- ARP Digital said the Dubai license reflects its plan to expand across the Gulf.
- The release did not specify which digital assets or stablecoin products would be offered under the new license.
DUBAI, Aug. 12. ARP Digital has obtained a broker-dealer license from Dubai's Virtual Assets Regulatory Authority, clearing it to offer regulated conversions of digital assets and stablecoins into UAE dirhams. The approval extends the company's Gulf footprint beyond Bahrain, where the firm held its prior licensed presence in the region.
License scope
Under the VARA authorization, ARP Digital can convert digital assets and stablecoins into UAE dirhams on a regulated basis, the company said. Dubai's Virtual Assets Regulatory Authority governs virtual asset activity in the emirate. The release did not specify which digital assets or stablecoin products would be offered under the new license.
Gulf reach
ARP Digital's existing regulated operations were based in Bahrain before this approval. The firm said the Dubai license reflects its plan to expand across the Gulf. The two markets operate under separate regulatory frameworks.