CoinMENA FZE, a subsidiary of CoinMENA B.S.C. (c), has obtained a Digital Asset Service Supplier (VASP) license for VA Dealer-Supplier providers from Dubai’s Digital Belongings Regulatory Authority (VARA) to function and supply its providers in and from the Emirate.
CoinMENA B.S.C (c) has, so far, been serving shoppers within the UAE from its base in Bahrain. With the award of the VARA license, CoinMENA FZE can now serve shoppers from its Dubai Head Workplace and make the most of native banking providers, providing UAE-based customers the comfort of prompt cash deposits and withdrawals.
CoinMENA’s co-founders Dina Sam’an and Talal Tabbaa stated:
“Due to the regulatory readability from VARA, Dubai is changing into a worldwide hub for crypto and digital asset monetary providers.”
“Constructing sturdy relationships with native regulators has been a precedence for us since day one,” stated Sam’an. “We’re delighted to have obtained a license from VARA, which additional strengthens our market place and provides confidence to our customers and buyers.”
“Dubai is on the forefront of crypto progress and innovation, launching numerous initiatives to push the adoption of the digital asset within the area,” added Tabbaa. “Working with VARA will allow us to raised serve our institutional and retail customers within the Emirate in addition to scale back fiat to crypto transaction prices.”