Bitpanda Enters UAE Market with VARA License
Bitpanda has been issued a Broker-Dealer license by the Dubai Virtual Assets Regulatory Authority (VARA), its first fully licensed presence outside of Europe.
The license allows Bitpanda to provide its virtual asset services to UAE investors, including access to over 500 virtual assets, such as crypto indices and savings plans.
Dubai’s Crypto-Friendly Environment
Dubai keeps reaffirming itself as a global digital asset hub. VARA’s open and investor protection-minded regulatory environment makes it a great place for crypto businesses.
Bitpanda aims to be a part of this vision, with a secure and compliant platform designed for the investor requirements of the UAE.
Regional Office and Market Onboarding
Bitpanda opened a permanent base at the DMCC Crypto Centre and established a dedicated regional staff. Investor onboarding will kick off in the next few months.
The move is a clear indication of Bitpanda’s commitment to infusing itself heavily into the financial fabric of the UAE.
Founding on Regulatory Resilience
In January this year, Bitpanda obtained a MiCA license by Germany’s BaFin, facilitating operations in all 27 member states of the EU under a unified framework.
It also has several other licenses, including:
- MiCAR licence from BaFin (Germany)
- FCA registration (UK)
- PSD2 E-money license
- MiFID II license
These licenses further reiterate Bitpanda’s regulatory-first approach and stature in the industry.
Prioritizing Compliance and Security under the Leadership
Deputy CEO Lukas Enzersdorfer-Konrad highlighted the emphasis of the platform on compliance as well as the protection of the investors. “With our VARA licence, we are ensuring investors and financial institutions in the UAE can benefit from a fully compliant digital asset platform,” he added.
General Counsel Fabian Reinisch lauded VARA’s rapid approval process and system, attributing Bitpanda’s decade-long regulatory knowledge for the streamlined licensing process.
