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59 Companies Hold a VARA Crypto Licence in Dubai. Who May Serve Retail

Every active licence on VARA's register, what each firm may do, which ones may take retail clients, and the majors that are absent.

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The short version: 59 companies hold an active VASP licence on VARA's public register (read 21 Oct 2026). They belong to 57 brands; BitGo and Bitpanda each have a separate custody company, as VARA requires custody to sit in its own licensed entity (VARA). 34 of them are permitted to serve retail investors; 24 may serve only institutional and/or qualified investors, and one may reach retail clients only through licensed financial institutions (VARA register).

Dubai VARA licences, by year issued2023: May serve retail investors 6, Institutional / qualified only 5; 2024: May serve retail investors 9, Institutional / qualified only 3; 2025: May serve retail investors 10, Institutional / qualified only 7; 2026: May serve retail investors 9, Institutional / qualified only 10Dubai VARA licences, by year issuedActive VASP licences on VARA's register, by year of issue and client permissionMay serve retail investorsInstitutional / qualified only051015206511202393122024107172025910192026Source: VARA public register. VASP Tracker
59 active licences, read 21 Oct 2026; 19 issued in 2026 so far. Licences no longer active are not on the register. Source: VARA. Download: SVG · PNG · CC BY 4.0

What They May Do

44 licences cover broker-dealer services, 16 exchange services and 6 custody. The licence condition on each firm's VARA page sets the client types; some add limited licences, for example for derivatives or margin trading, with their own client limits. Our firm pages quote the condition in full.

What Dubai's licensed crypto firms may doLicensed activities across the 59 active VARA licences. Broker-dealer: 44; Exchange: 16; Management and investment: 13; Custody: 6; Lending and borrowing: 5; Advisory: 3; VA issuance (Category 1): 2What Dubai's licensed crypto firms may doLicensed activities across the 59 active VARA licencesBroker-dealer44Exchange16Management and investment13Custody6Lending and borrowing5Advisory3VA issuance (Category 1)2Source: VARA public register. VASP Tracker
A licence can cover several activities. Read 21 Oct 2026. Source: VARA. Download: SVG · PNG · CC BY 4.0

Newest Licences

19 of the active licences were issued in 2026. The most recent, on 6 Oct 2026, went to Kraken's Payward FZCO (VARA lists kraken.com/ae as its website). The earliest still active dates from 28 Jul 2023 (Laser Digital).

The Register

Brand / companyLicensed activitiesClientsIssuedVARA ref.
KrakenPayward FZCOManagement and investment, Broker-dealerRetail, qualified, institutional6 Oct 2026VL/26/10/002
RainRain MENA FZEExchange, Broker-dealerRetail, qualified, institutional5 Oct 2026VL/26/10/001
Standard CharteredStandard Chartered BankBroker-dealerInstitutional / qualified only24 Aug 2026VL/26/08/003
DVADIMENT VA EXCHANGE SERVICES FZCO (DVA)Broker-dealerRetail, qualified, institutional7 Aug 2026VL/26/08/002
ARP DigitalARP Digital FZCOBroker-dealerInstitutional / qualified only7 Aug 2026VL/26/07/03
FlowdeskFlowdesk Omega FZEBroker-dealerInstitutional / qualified only7 Aug 2026VL/26/08/001
FlipsterFlipster FZEExchangeRetail, qualified, institutional14 Jul 2026VL/26/07/002
ARBEAT GroupARBEAT Group FZEBroker-dealer, ExchangeRetail, qualified, institutional23 Jun 2026VL/26/07/001
TribeTribe Tokenisation FZEBroker-dealerRetail, qualified, institutional22 Jun 2026VL/26/06/002
YHEGOYHEGO Virtual Assets Exchange Service L.L.C (Yhego Technology Investment L.L.C)Broker-dealer, ExchangeRetail, qualified, institutional2 Jun 2026VL/26/06/001
CoinCornerCoinCorner Virtual Assets Broker & Dealer Services L.L.C.Broker-dealerRetail, qualified, institutional5 May 2026VL/26/05/001
First CryptoFirst Crypto Exchange L.L.C (First Crypto)Broker-dealerRetail, qualified, institutional26 Apr 2026VL/26/04/004
Liquidity FintechLiquidity Fintech FZEBroker-dealerInstitutional / qualified only16 Apr 2026VL/26/04/003
DamanDaman Virtual Asset Brokerage LLCBroker-dealerInstitutional / qualified only16 Apr 2026VL/26/04/001
AmberAmber Premium FZEBroker-dealer, Management and investment, Lending and borrowingInstitutional / qualified only2 Apr 2026VL/26/03/003
RIV TechnologiesRIV Technologies FZEAdvisoryInstitutional / qualified only27 Mar 2026VL/26/03/002
XBaseXBase Virtual Assets Broker & Dealer Services LLCBroker-dealerInstitutional / qualified only19 Mar 2026VL/17/03/001
Animoca BrandsAnimoca Brands Middle East Advisory FZCOManagement and investment, Broker-dealerInstitutional / qualified only5 Feb 2026VL/26/02/001
Nova DigitalNova Digital FZEManagement and investmentInstitutional / qualified only30 Jan 2026VL/26/01/001
LCT GlobalLCT Global FZEExchangeRetail, qualified, institutional26 Dec 2025VL/25/12/001
CeffuCeffu Custody FZECustodyInstitutional / qualified only9 Oct 2025VL/25/10/001
Selini CapitalSelini Capital FZEBroker-dealerInstitutional / qualified only8 Oct 2025VL/25/10/002
BitGoBitGo MENA FZEBroker-dealerInstitutional / qualified only17 Sep 2025VL/25/09/001
Ctrl Alt SolutionsCtrl Alt Solutions DMCCBroker-dealer, VA issuance (Category 1)Institutional / qualified only24 May 2025VL/25/05/002
PrypcoPrypco FZEBroker-dealerRetail, qualified, institutional24 May 2025VL/25/05/001
MidchainsMidchains FZEBroker-dealerRetail, qualified, institutional29 Apr 2025VL/25/04/008
GateGate Technology FZEExchangeRetail, qualified, institutional25 Apr 2025VL/25/04/007
BitpandaBitpanda Custody MENA FZCOCustodyRetail, qualified, institutional25 Apr 2025VL/25/04/006
BitGoBitGo Custody MENA FZECustodyInstitutional / qualified only25 Apr 2025VL/25/04/003
Atremo DigitalAtremo Digital FZEBroker-dealerInstitutional / qualified only25 Apr 2025VL/25/04/005
MKXMKX Virtual Assets Broker & Dealer Services L.L.C.Broker-dealerRetail, qualified, institutional18 Apr 2025VL/25/04/001
DKK DigitalDKK Digital FZEBroker-dealer, AdvisoryInstitutional / qualified only18 Apr 2025VL/25/04/002
HashKeyHashkey MENA FZE (HashKey)Broker-dealer, ExchangeRetail, qualified, institutional14 Apr 2025VL/25/03/002
Gap 3 PartnersGap 3 Partners FZCOAdvisoryRetail, qualified, institutional14 Apr 2025VL/25/04/004
BitpandaBitpanda Broker MENA FZCOBroker-dealerRetail, qualified, institutional19 Mar 2025VL/25/03/001
Mantra FinanceMantra Finance FZEExchange, Broker-dealer, Management and investmentRetail, qualified, institutional19 Feb 2025VL/25/02/001
TokinvestTokinvest DMCCBroker-dealer, VA issuance (Category 1)Retail, qualified, institutional30 Dec 2024VL/2024/12/004
OFZAOFZA Fintech Virtual Asset Exchange Services LLCExchange, Broker-dealer, Management and investmentRetail, qualified, institutional30 Dec 2024VL/24/12/002
Zand BankZand Bank P.J.S.C.CustodyInstitutional / qualified only9 Dec 2024VL/2024/12/001
BitOasisBitOasis Technologies FZEBroker-dealerRetail, qualified, institutional29 Nov 2024VL/2024/11/001
DeribitDeribit FZEExchange, Broker-dealerRetail, qualified, institutional1 Nov 2024VL/23/12/002
OKXOKX Middle East Fintech FZELending and borrowing, Management and investment, Exchange, Broker-dealerRetail, qualified, institutional17 Sep 2024VL/23/12/003
AquanowAquanow ME FZEBroker-dealer, Management and investment, Lending and borrowingQualified, institutional; retail via licensed FIs22 Jul 2024VL/24/01/001
RomaVarni Labs FZE (Roma)Broker-dealerRetail, qualified, institutional22 Jul 2024VL/23/10/001
MB.IOMBIO FZE (MB.IO)Broker-dealer, ExchangeRetail, qualified, institutional18 Jul 2024VL/24/06/001
HT MarketsHT Markets MENA FZEBroker-dealerInstitutional / qualified only31 May 2024VL/23/08/003
BinanceBinance FZEBroker-dealer, Management and investment, Lending and borrowing, ExchangeRetail, qualified, institutional15 Apr 2024VL/24/04/001
Crypto.comForis DAX Middle East FZE (Crypto.com)Broker-dealer, Management and investment, Lending and borrowing, ExchangeRetail, qualified, institutional3 Apr 2024VL/23/10/003
AYAWeb 3 Innovations FZE (AYA)Management and investmentRetail, qualified, institutional1 Dec 2023VL/23/12/001
FassetFasset FZEBroker-dealerRetail, qualified, institutional30 Nov 2023VL/23/07/002
CoinMENACoinMENA FZEBroker-dealerRetail, qualified, institutional30 Nov 2023VL/23/09/001
Nine Blocks Capital ManagementNine Blocks Capital Management FZEManagement and investmentInstitutional / qualified only21 Nov 2023VL/23/09/003
GCEXGC Exchange FZE (GCEX)Broker-dealerInstitutional / qualified only17 Nov 2023VL/23/09/002
Hex TrustHex Trust MENA FZECustodyInstitutional / qualified only15 Nov 2023VL/23/08/002
BackpackTrek Labs Ltd FZE (Backpack)ExchangeRetail, qualified, institutional30 Oct 2023VL/23/07/001
FUZEMorpheus Software Technology FZE (FUZE)Broker-dealerRetail, qualified, institutional19 Oct 2023VL/23/10/002
Scintilla NetworkScintilla Network FZEBroker-dealer, ExchangeRetail, qualified, institutional11 Sep 2023VL/23/07/003
KomainuKomainu MEA FZECustodyInstitutional / qualified only18 Aug 2023VL/23/08/001
Laser DigitalLaser Digital Middle East FZEBroker-dealer, Management and investmentInstitutional / qualified only28 Jul 2023VL/23/06/001

How to Read the List

  • VARA's register shows active licences only. Firms that were refused, withdrew or lost a licence do not appear, so the yearly counts are licences still active today, not all licences ever issued.
  • Brand names come from the legal name, from the trade name VARA gives in brackets (for example “Foris DAX Middle East FZE (Crypto.com)”), or, for Kraken, from the website VARA lists.
  • “The Virtual Assets Regulatory Authority (VARA) is the sole authority regulating virtual assets across Dubai’s free zones and mainland, except within the jurisdiction of Dubai International Financial Centre (DIFC).” (VARA). Firms licensed in Abu Dhabi Global Market, the DIFC or federally by the SCA are not on this register.

Who Is Not on the Register

Bybit, Coinbase and Bitget: no company with these names or websites holds an active VARA licence (read 21 Oct 2026). This says nothing about licences from other UAE authorities. MEXC and KuCoin are absent too, and VARA fined entities of both in 2026 (enforcement).

Sources

  1. VARA public register www.vara.ae
  2. VARA licensed activities www.vara.ae

Cite This Page

VASP Tracker, “59 companies hold a VARA crypto licence in Dubai. Who may serve retail”, https://vasptracker.com/en/ae/analysis/dubai-vara-licensed-crypto-firms/ (accessed 21 Oct 2026). CC BY 4.0.

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