It seems like almost every week or so new virtual asset service providers are seeking licenses in Dubai UAE. The latest already regulated in Cyprus and Mauritius, is B2 Prime Group. Its MENA entity, B2B Prime Digital MEA has been granted initial approval for a crypto broker, crypto exchange, payment and transfer license from VARA (Dubai Virtual asset regulatory Authority).
As per the press release, licensing remains subject to fulfillment of pre-operating conditions and qualifying for operational approval by VARA.
This milestone signifies the granting of Initial approvals from VARA for licenses covering activities of “Virtual Asset Exchange Services,” “Virtual Asset Broker Dealer Services,” and “Virtual Asset Transfer and Settlement Services”.
Eugenia Mykuliak, Founder of B2Prime, expressed her gratitude for this achievement, stating, “We are excited to contribute to the growth of Dubai’s ever growing Virtual assets ecosystem.”
Arthur Azizov, Co-Founder of B2B Prime Digital MENA added, “We are extremely proud and grateful to have received initial approval from VARA, which is a testament to our determination to maintain the highest standards in regulatory compliance.”We’ve built a powerful ecosystem that not only meets but exceeds the industry’s standards, guaranteeing a safe and efficient gateway to virtual assets for users. We are ready to move forward in the licensing process in our bid to offer secure and streamlined access to virtual assets, strictly adhering to VARA’s guidelines.”
“The receipt of the Initial Approval for all three licenses, particularly the Transfer and Settlement License, was eagerly awaited and has brought immense joy to our entire team. This achievement has undoubtedly inspired us to pour our absolute best towards securing the Virtual Asset Service Provider license”, stated Adriana Paredes Herrera, CEO of B2B Prime Digital MENA.
B2Prime Group, a Prime of Prime Multi-Asset Liquidity Provider, serves institutional and professional clients globally and offers compliant, reliable expertise across Forex, Crypto CFDs, and other markets.