After being fined in 2025, Triple-A is now on track for a license in UAE
After being fined in 2025 for offering and marketing its services in the UAE without a license, Triple-A is now in the process of being licensed and has received an in principle approval from Dubai’s Virtual Asset Regulatory Authority (VARA).
Listed on VARA’s website Triple-A is seeking a crypto brokerage license. Eric Barbier, CEO of Triple-A noted on LinkedIn, “We’ve already had advanced discussions with major companies in Dubai to enable them to accept stablecoin payments, and I’m looking forward to taking this further.”
In October 2025, Dubai’s Virtual Asset Regulatory Authority (VARA) penalized 19 VASPs for carrying out unlicensed virtual asset activities and for breaches of VARA’s marketing regulations. The penalties ranged from AED 100,000 – AED 600,000 ( $27,000, to $163,000) depending on the seriousness of the violation.
At the time VARA shared the list of VASPs who had been penalized including names such as UAEC Digital Fintech FZCO, MORPHEUS SOFTWARE TECHNOLOGY FZE (FUZE), TON DLT Foundation, GLEEC DMCC, UEEX technology, Triple A Technologies, Hatom Labs, Hokk Finance and many more.
Today Triple-A is back in the UAE but in a regulated manner. Triple-A is a global payment institution licensed in the United States, Europe, and Singapore, specializing in stablecoin-based payment solutions for businesses worldwide. In 2024 it partnered with Crypto.com for crypto payments, as well as Circle in 2025.
Triple-A is already licensed across multiple jurisdictions, giving businesses a single regulated partner for stablecoin payments globally: United States: FinCEN-registered Money Services Business (MSB), licensed as a Money Transmitter across 21 states, including Washington and Florida, European Union: Payment Institution (PI) licensed under PSD2 by the ACPR in France, and CASP license authorized under MiCA by the Autorité des Marchés Financiers (AMF) in France, passported across all 30 EU and EEA member states, Singapore: Major Payment Institution (MPI) licensed by the Monetary Authority of Singapore (MAS) under the Payment Services Act (PSA) and Canada: Registered with FINTRAC as a Foreign Money Services Business and with the Bank of Canada as a Payment Service Provider under the RPAA.
On its LinkedIn Page Triple A noted that the company has just reached a major regulatory milestone regarding the In-Principle Approval from VARA in Dubai. The statement stated, ” One of the most selective virtual asset licenses in the world. An IPA means VARA has completed its formal review, and Triple-A is now progressing to the final stage before a full license is granted. It’s a significant regulatory threshold. Not a formality.”
They added, “We now enter a defined window to complete operational readiness requirements and close remaining post-IPA items.”
Updated at 3:55 pm July 15th
