Komainu: Pioneering Custodial Evolution in Digital Finance
In the evolving landscape of digital assets, Komainu has emerged not merely as a custodial entity, but as a strategic bridge between traditional financial institutions and the expanding realm of cryptocurrencies. During an exclusive interview with UNLOCK Blockchain, Sebastian Widmann, Head of Strategy at Komainu, shared comprehensive insights into the company’s inception, philosophy, and its […]
FSRA’s 2024 Vision: Driving Virtual Asset Innovation in ADGM through Continuous Regulatory Guidelines Enhancement for Market Excellence
The Financial Services Regulatory Authority (FSRA) within Abu Dhabi Global Market (ADGM) has outlined its strategic focus for the 2024 Business Plan, with a strong emphasis on innovation, particularly in the realm of virtual assets (VAs). Since 2018, the FSRA has proactively implemented a tailored regulatory framework for virtual assets, leading to the authorization of […]
The World Tokenization Summit Returns, Centered on Real-World Asset Tokenization in Dubai
After its highly successful inaugural event, The World Tokenization Summit proudly announces the return of its second edition scheduled for November 21, 2023, in Dubai. This distinguished summit, centered on Real World Asset (RWA) tokenization, is set to provide an unmatched platform for industry leaders, innovators, and experts to delve into the vast potential of […]
VARA’s Market Notice: Fines Issued as Deadline for Virtual Asset Service Provider Licensing Lapses
This notice from Dubai’s Virtual Assets Regulatory Authority (VARA) is intended to alert all stakeholders and consumers that the deadline for entities in the VA sector to initiate the regulatory licensing application process has now passed. As per VARA’s officially announcement on November 5th following several advisories since Q2-2023, entities operating in the virtual asset […]
FUZE Secures License From VARA Following $14M Seed Funding Milestone
Morpheus Software Technology (FUZE) FZE has attained a significant milestone in the realm of Virtual Asset Service Providers (VASPs) by acquiring a VARA license specifically for Broker-Dealer Services. The license, issued on 17/11/2023, underscores the company’s commitment to regulatory compliance and its capacity to engage in authorized activities within the virtual asset landscape. The VARA […]
VARA Notes BG’s Cooperation, License Still Required for Islamic Coin Sales in Dubai
Investors and stakeholders following the developments surrounding the issuance, marketing, and distribution of Islamic Coin (ISLM) by Bored Gen DMCC (BG) and its affiliates have received an update from the Virtual Assets Regulatory Authority (VARA). In a notice dated 4 October 2023, VARA addressed its enforcement action and ongoing investigation into these activities. The recent […]
Hex Trust Receives VASP License in Dubai, Expanding Crypto Custodial Services in the Middle East
Hong Kong-founded institutional cryptocurrency asset custodian Hex Trust has received a full virtual asset service provider (VASP) license from Dubai’s Virtual Asset Regulatory Authority (VARA) to offer virtual asset custodial services in the region. Hex Trust, which established an office in Dubai in June 2022, initially received a minimal viable product (MVP) operations license in […]
OKX Unveils X1, a ZK L2 Network Connecting Millions, Fueled by Polygon Labs
OKX, a leading global cryptocurrency exchange and Web3 ecosystem, has joined forces with Polygon Labs, a prominent international blockchain software technology company, to introduce the testnet for ‘X1.’ This Ethereum-based Zero Knowledge (ZK) Layer-2 (L2) network, crafted using the Polygon Chain Development Kit (CDK), aims to revolutionize the Web3 landscape. Geared towards developers, X1 offers […]
Crypto.com Dubai Entity Secures VASP License from VARA for Expanded Services
In a significant development for Crypto.com‘s expansion strategy, the company’s Dubai entity, CRO DAX Middle East FZE, has been granted a Virtual Assets Service Provider (VASP) license by Dubai’s regulatory authorities, pending operational approval. This license marks a new chapter for Crypto.com, allowing its Dubai arm to provide a range of services, including exchange, broker-dealer, […]
Xprizo and Foresee Payments Forge Strategic Alliance for Fintech Innovation in the UAE
In a groundbreaking move, Xprizo, a cutting-edge fintech platform, has announced a strategic collaboration with Foresee Payment Services L.L.C. This partnership not only signifies a significant milestone for Xprizo but also opens the doors to a new era of financial innovation in the flourishing UAE market. United by a shared vision of fostering financial empowerment, […]