Arbeat, UAE homegrown crypto exchange receives full license from VARA

After receiving its in principle license approval in April of this year, UAE born Arbeat, crypto exchange services catered to institutional investors, has received has received its Virtual Asset Service Provider (VASP) License from Virtual Assets Regulatory Authority [VARA], which covers virtual asset exchange services, and brokerage services.

In a LinkedIn Post Khaled Guerbouz, CEO of Arbeat announced, the license noting that this is a significant milestone. He also explained, ” What makes this milestone meaningful is what it represents beyond the license itself: building a digital asset platform around strong regulatory standards, institutional trust and a long-term commitment to the UAE market.”

Back in April, Khaled on Linked In, had noted that Arbeat would be catering to the institutional market as part of UAE’s digital economy strategy. Guerbouz noted, “We want to take part and help guide the responsible addition of digital assets to the UAE’s financial system.

Arbeat joins more than 50 other VASPs who have been licensed by VARA over the past years. This comes as UAE homegrown crypto exchanges such as Daman Crypto, Fasset, and even older homegrown crypto brokers such as CoinMENA, and BitOasis.