Bitpanda Secures Full Dubai License in Major Regulatory Win Outside Europe ⋅ Crypto World Echo
Three months after receiving preliminaryauthorization, Bitpanda has now secured a full broker-dealer license from theDubai Virtual Assets Regulatory Authority (VARA), allowing it to offer itsservices in the UAE.
This marks the European exchange’s first fullylicensed expansion outside of Europe. Bitpanda’s new license enables it tointroduce a wide range of virtual assets to UAE investors, including over 500cryptocurrencies, crypto indices, and savings plans.
UAE’s Crypto-Friendly Environment Draws Bitpanda
“The UAE is one of the most forward-thinkingmarkets for digital assets, and VARA sets a new standard for innovation andinvestor protection. This license allows us to bring our trusted, regulatedplatform to a new audience,” Fabian Reinisch, the General Counsel atBitpanda Group, said.
“We obtained approval in record time, and Ibelieve that is a testament to the decade of experience our teams have workingin the digital asset space and our commitment to the highest regulatorystandards,” he added.
@Bitpanda_global has secured an in-principle approval from the Virtual Assets Regulatory Authority (#VARA) in #Dubai!This milestone paves the way for Bitpanda’s official launch in the #UAE under Bitpanda Broker MENA #DMCC.With this approval coming in under eight months,… pic.twitter.com/KJKqhqpYcH
— Unlock Blockchain (@unlockbc) December 16, 2024
The UAE has rapidly emerged as a top destination forcrypto firms due to its regulatory clarity and investor-friendly policies. WithBitpanda’s entry, local investors will gain access to one of the mostcomprehensive digital asset offerings in the market.
Multiple Licenses in Europe
The company already holds multiple licenses in Europe,including a MiCAR license from Germany’s BaFin, registration with the UK’sFinancial Conduct Authority (FCA), and other regulatory approvals acrossdifferent markets.
Big news: Bitpanda has secured its MiCAR licence, granted by Germany’s BaFin – one of Europe’s top financial supervisory authorities. 🚀This sets a new benchmark for transparency, security, and trust in crypto across the EU. With this licence, we’re ready to bring regulated… pic.twitter.com/i1PlxhwK6U
— Bitpanda (@Bitpanda_global) January 27, 2025
With its license secured, Bitpanda is setting upoperations at the DMCC Crypto Centre in Dubai, where a regional team is alreadyin place. The company plans to roll out onboarding for UAE investors in thecoming months, offering access to its full suite of digital asset services.
Early this year, Bitpanda obtained its MiCAR license from Germany’s Federal Financial Supervisory Authority (BaFin). This approval reportedly enables the company to operate across all EU member states under a unified regulatory framework. It reportedly enables the exchange to expand its services across 27 EU countries.
This article was written by Jared Kirui at www.financemagnates.com.
