Will a
forex specialist in emerging markets cope in the decentralized world of
cryptocurrencies? DKK Partners, whose Middle East subsidiary has secured an
Initial Approval from the Dubai Virtual Assets Regulatory Authority (VARA) to
offer virtual asset services in Dubai, has decided to find out.
The
regulatory approval allows DKK FZE to move forward in acquiring a full Virtual
Asset Service Provider Licence from VARA. Once licensed, the company plans to
provide Dubai and UAE-based corporate and institutional clients access to
stablecoin solutions leveraging blockchain technology.
“It is
an incredibly exciting time for DKK in the Middle East and securing the VARA
Initial approval will enable us to continue making a splash in the region,”
said Khalid Talukder, the Co-Founder and CEO of DKK Partners.
We’re thrilled to share that we’ve achieved the initial approval for the Dubai Virtual Assets Regulatory Authority [VARA] License!#fx #trade #emergingmarkets #exchangerates #finance #fintech#fxtips #stablecoin #usdt #usdc #digital #vara #dubai #dwtchttps://t.co/sAuwCDZz7q pic.twitter.com/bL5vBbMIUT
— DKK Partners (@DkkPartners) February 22, 2024
Since
establishing operations in Dubai last year, DKK FZE has rapidly expanded its
presence under the leadership of Victoria Albergini, the Head of Partnerships.
The VARA approval aligns with DKK’s broader digital asset strategy to cement
Dubai as a key hub in the Middle East.
“The VARA
initial approval enhances our ability to serve the unique needs of corporate
and institutional customers,” Albergini commented.
DKK
Partners specializes in providing FX risk management, liquidity solutions and
streamlined collections to organizations in high-growth emerging markets.
Crypto Firms Flock to
Dubai for VARA Licenses
Dubai has
become a hotspot for cryptocurrency and blockchain companies seeking regulatory
approval and licenses from the emirate’s VARA. DKK joins a growing list of
major industry players making moves to establish operations in Dubai’s
crypto-friendly jurisdiction.
In late
January, liquidity provider B2Prime Group announced that its subsidiary B2B
Prime Digital MENA obtained initial approval for a VARA license. While final
licensing is still pending the fulfilment of pre-operating conditions, B2Prime
is on track to securing regulatory compliance in Dubai.
In the meantime, Canada-based crypto infrastructure provider Aquanow bolstered its
status by securing a formal Virtual Asset Service Provider (VASP) license from
VARA. This license allows Aquanow to offer compliant crypto services from
within the emirate.
Other
recent VARA license approvals include the Dubai subsidiary for cryptocurrency
exchange OKX in December. With its VASP license approved, OKX Middle East
Fintech can now offer virtual asset exchange services in Dubai’s regulatory
jurisdiction.
Additionally
in December, CoinMENA FZE, a subsidiary of CoinMENA B.S.C. obtained a specific
VASP license for VA Broker-Dealer services from VARA. This license enables CoinMENA to operate legally as a licensed virtual asset broker
and dealer based in the city.
The
continuous influx of crypto companies seeking VARA licensing and approval
highlights Dubai’s attractiveness and competitive edge in welcoming virtual
asset businesses. As one of the most crypto-friendly jurisdictions in the
world, Dubai is likely to see many more industry players following suit and
establishing operations with VARA’s regulatory backing.
Will a
forex specialist in emerging markets cope in the decentralized world of
cryptocurrencies? DKK Partners, whose Middle East subsidiary has secured an
Initial Approval from the Dubai Virtual Assets Regulatory Authority (VARA) to
offer virtual asset services in Dubai, has decided to find out.
The
regulatory approval allows DKK FZE to move forward in acquiring a full Virtual
Asset Service Provider Licence from VARA. Once licensed, the company plans to
provide Dubai and UAE-based corporate and institutional clients access to
stablecoin solutions leveraging blockchain technology.
“It is
an incredibly exciting time for DKK in the Middle East and securing the VARA
Initial approval will enable us to continue making a splash in the region,”
said Khalid Talukder, the Co-Founder and CEO of DKK Partners.
We’re thrilled to share that we’ve achieved the initial approval for the Dubai Virtual Assets Regulatory Authority [VARA] License!#fx #trade #emergingmarkets #exchangerates #finance #fintech#fxtips #stablecoin #usdt #usdc #digital #vara #dubai #dwtchttps://t.co/sAuwCDZz7q pic.twitter.com/bL5vBbMIUT
— DKK Partners (@DkkPartners) February 22, 2024
Since
establishing operations in Dubai last year, DKK FZE has rapidly expanded its
presence under the leadership of Victoria Albergini, the Head of Partnerships.
The VARA approval aligns with DKK’s broader digital asset strategy to cement
Dubai as a key hub in the Middle East.
“The VARA
initial approval enhances our ability to serve the unique needs of corporate
and institutional customers,” Albergini commented.
DKK
Partners specializes in providing FX risk management, liquidity solutions and
streamlined collections to organizations in high-growth emerging markets.
Crypto Firms Flock to
Dubai for VARA Licenses
Dubai has
become a hotspot for cryptocurrency and blockchain companies seeking regulatory
approval and licenses from the emirate’s VARA. DKK joins a growing list of
major industry players making moves to establish operations in Dubai’s
crypto-friendly jurisdiction.
In late
January, liquidity provider B2Prime Group announced that its subsidiary B2B
Prime Digital MENA obtained initial approval for a VARA license. While final
licensing is still pending the fulfilment of pre-operating conditions, B2Prime
is on track to securing regulatory compliance in Dubai.
In the meantime, Canada-based crypto infrastructure provider Aquanow bolstered its
status by securing a formal Virtual Asset Service Provider (VASP) license from
VARA. This license allows Aquanow to offer compliant crypto services from
within the emirate.
Other
recent VARA license approvals include the Dubai subsidiary for cryptocurrency
exchange OKX in December. With its VASP license approved, OKX Middle East
Fintech can now offer virtual asset exchange services in Dubai’s regulatory
jurisdiction.
Additionally
in December, CoinMENA FZE, a subsidiary of CoinMENA B.S.C. obtained a specific
VASP license for VA Broker-Dealer services from VARA. This license enables CoinMENA to operate legally as a licensed virtual asset broker
and dealer based in the city.
The
continuous influx of crypto companies seeking VARA licensing and approval
highlights Dubai’s attractiveness and competitive edge in welcoming virtual
asset businesses. As one of the most crypto-friendly jurisdictions in the
world, Dubai is likely to see many more industry players following suit and
establishing operations with VARA’s regulatory backing.
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- Source: https://www.financemagnates.com//fintech/dkk-partners-gets-green-light-for-crypto-in-dubai/
