Amber Group, a digital assets manager through its subsidiary Amber Premium FZE, a Dubai-based subsidiary of Amber Group, has secured in-principle approval for a Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA).

As per the announcement shared on their Linkedin page, this notable success underscores both Amber Group’s commitment to adhering to the stringent regulatory standards set by Dubai’s virtual asset framework.

With this initial approval, Amber Premium FZE once fully licensed will be able to offer crypto broker-dealer services, lending and borrowing solutions, as well as asset management and investment offerings. All of these services will operate within the legal and regulatory framework established by the UAE, further positioning the company to expand its presence and influence in the region’s digital asset market.

“This achievement is a testament to our commitment to regulatory compliance and responsible growth,” said Michael Wu, CEO of Amber Group. “Dubai’s progressive regulatory environment, along with the invaluable support of NH Management, positions us to establish a strong virtual asset ecosystem.”

“Working with Amber Group to reach this milestone underscores our commitment to advancing strategic initiatives in the digital asset space,” said Tao Xiao, Managing Partner at NH Management. “We are eager to continue our partnership, navigating the regulatory landscape with our expertise and unlocking new opportunities in the Middle East market.”

NH Management has been a key player in facilitating Amber Premium FZE’s initial approval process. The consultancy firm will continue to offer support as Amber Group works toward securing the full operational VARA license. This partnership demonstrates both companies’ shared vision of fostering innovation while ensuring regulatory excellence in the rapidly growing digital asset industry.

Amber Group has raised a total funding of $628M over 4 rounds from 33 investors led by Fenbushi Capital.