Universal Digital AEDU and Canadian Aquanow have received MVP ( Minimum Viable Product) provisional license approvals for several virtual asset licenses from Dubai’s Virtual asset regulatory authority ( VARA ). Universal Digital (AEDU) has applied for advisory license, broker dealer services, virtual asset custodial license, crypto exchange license, crypto lending and borrowing license, as well as management and investment service license. In addition Canadian headquartered, digital asset platform has also received MVP provisional approval for advisory license, broker dealer license, and management investment service license. Aquanow is a privately funded, infrastructure and liquidity provider that enables institutional and enterprise use-cases for digital assets. The company currently has 200 institutional clients, serving customers in 30 plus countries with 70 asset pairings. This is another representation of increased interest in the UAE as a center for virtual assets, blo...

  Crypto exchange, MaskEX has unilaterally announced receiving an initial approval from Dubai’s Virtual Asset Regulatory Authority (VARA) to begin making preparations for its launch in the United Arab Emirates (UAE). It also will be opening its headquarters in Dubai and hiring.  As per the announcement, the approval represents a major milestone for MaskEX, which has been working tirelessly to expand its presence in the Middle East and bring the benefits of virtual assets to a wider audience. MaskEX will begin finalizing its entity incorporation, engage banking services, hire more staff in Dubai for its soon-to-be-opened headquarters office, and take the necessary steps to become the first regulated exchange in the UAE. The services and activities MaskEX has applied for include exchange, lending and borrowing, broker-dealer, and virtual asset management and investment services, with the aim of obtaining VARA’s highly acclaimed FMP license. This license will enable MaskEX ...