European regulated crypto exchange WhiteBIT receives in principle approval from VARA Dubai
WhiteBIT, the Swiss based European crypto exchange which serves more than 35 million customers globally with $2.7 Trillion Annual trading volume, ranking among the world’s most-visited trading platforms, has received in-principle approval from Dubai’s Virtual Assets Regulatory Authority (VARA)—a move that places another major international name in the UAE’s fast-growing regulatory pipeline.
The approval is a strategic signal for both sides. For WhiteBIT, founded in 2018 which prides itself in being a European exchange, now is entering MENA through VARA Dubai.
This also follows its MiCa (Markets in Crypto Assets Regulation) license for WhiteBIT EU, announced last week in Austria. Under MiCAR, WhiteBIT EU will be able to provide regulated crypto-asset services to eligible users across the EEA.
In the UAE, WhiteBit is seeking a full crypto exchange license. The in principle approval is one step towards completing VARA’s remaining governance, compliance, technology and operational requirements, but it does not permit the company to begin regulated virtual-asset activities or serve clients in Dubai until final authorization is granted.
WhiteBIT’s milestone lands amid a striking acceleration in approvals. A recent article in Lara on the Block noted that VARA’s latest additions had brought the number of in-principle-approved crypto brokers and exchanges to 22. Combined with 45 already licensed broker-dealers and exchanges, there are now 67 licensed or in-principle-approved operators in those two categories—evidence of just how crowded, and consequential, Dubai’s digital-asset market is becoming.
Beyond scale, the crypto exchange is building an ecosystem designed to keep users active on the platform. Its offering includes crypto lending and staking programmes, an internal AML address checker, zero-fee WhiteBIT Codes for peer-to-peer transfers, and support for Bitcoin transactions through the Lightning Network—features that combine yield opportunities, compliance tools and faster, lower-cost movement of funds.
WhiteBIT has also extended its reach through high-profile partnerships spanning sport, esports and payments. Its collaboration portfolio includes FC Barcelona, Juventus, ESL FACEIT Group and Visa—alliances that have helped bring the WhiteBIT brand before global fan communities while linking crypto services with mainstream entertainment and everyday payment experiences.
