Nexo’s entity based in Dubai has secured the initial
approval from Dubai’s Virtual Assets Regulatory Authority (VARA) to offer
lending, borrowing, investment, and broker-dealer services for virtual assets.
This marks the digital asset platform’s entry into Dubai’s digital asset space.

Kalin Metodiev, the Co-Founder and Managing Partner
at Nexo, mentioned: “Nexo is enthusiastic about the pursuit of new market
strategies aligned with the transformative guidance of Dubai’s Virtual Asset
Regulatory Authority.”

Dubai established the VARA in 2022, highlighting the
region’s commitment to becoming a global hub for digital asset innovation. For
Nexo, with its user base of 7 million, Dubai represents a significant
opportunity in its global expansion plans.

VARA regulates virtual assets across the Emirate of Dubai, including Special Development Zones and Free Zones, but excluding the Dubai International Financial Centre. This entity plays an important role in creating legal frameworks for protecting investors and establishing international standards for the virtual asset industry.

Expect ongoing updates as this story evolves.

Nexo’s entity based in Dubai has secured the initial
approval from Dubai’s Virtual Assets Regulatory Authority (VARA) to offer
lending, borrowing, investment, and broker-dealer services for virtual assets.
This marks the digital asset platform’s entry into Dubai’s digital asset space.

Kalin Metodiev, the Co-Founder and Managing Partner
at Nexo, mentioned: “Nexo is enthusiastic about the pursuit of new market
strategies aligned with the transformative guidance of Dubai’s Virtual Asset
Regulatory Authority.”

Dubai established the VARA in 2022, highlighting the
region’s commitment to becoming a global hub for digital asset innovation. For
Nexo, with its user base of 7 million, Dubai represents a significant
opportunity in its global expansion plans.

VARA regulates virtual assets across the Emirate of Dubai, including Special Development Zones and Free Zones, but excluding the Dubai International Financial Centre. This entity plays an important role in creating legal frameworks for protecting investors and establishing international standards for the virtual asset industry.

Expect ongoing updates as this story evolves.