CoinMENA FZE, a licensed Virtual Asset Service Provider (VASP) in the Dubai Virtual Assets Regulatory Authority (VARA), has expanded its operations in the United Arab Emirates (UAE). This follows CoinMENA B.S.C. (c), a category-3 crypto asset service provider from the Central Bank of Bahrain (CBB).
CoinMENA FZE is focused on reducing the cost of fiat to crypto transactions, and joins the growing list of Virtual Asset Service Providers actively contributing to Dubai’s evolving crypto ecosystem. The co-founders, Dina Sam’an and Talal Tabbaa, have stressed the importance of building strong partnerships with local regulators.
CoinMENA FZE is now equipped with the VARA licence and ready to contribute to Dubai’s vision as a global crypto hub. The company is positioned to better serve both institutional and retail customers in the UAE, leveraging local banking services for smooth transactions.
VARA’s regulatory clarity is crucial to positioning Dubai as a global hub of financial services for digital assets and crypto. Collaborating with VARA, CoinMENA seeks to support a borderless economy by integrating digital assets further into the financial landscape.
OKX and GC Exchange FZE (GCEX) are some of the crypto entities that have received regulatory approval from VARA. OKX received its license in July 2022, while GCEX was granted a license in November 2023.
CoinMENA’s Dubai debut is an important milestone in the region’s leading crypto company initiatives to encourage the adoption and growth of digital assets.
