UAE Omining crypto mining entity expands operations to Kenya

UAE Omining crypto mining entity expands operations to Kenya

UAE based Omining, the crypto mining infrastructure company operating under the DMCC ecosystem, has expanded operations into Kenya with new established facility in the Kenyan Special Economic Zone (SEZ) makes it one of the first large-scale Web3 deployments in East Africa by a UAE-based entity.

The company’s entry comes as global technology players, including Microsoft, expand into Kenya’s SEZ framework, with Google and Amazon reportedly completing due diligence for future presence in the region. Omining’s new facility will serve as its operational hub, with a 90-megawatt capacity currently being expanded to 200 megawatts.

It leverages Kenya’s stable electricity costs, investor-friendly regulation, and growing global relevance. Naivasha, where the plant will run, offers other key advantages: a year-round temperate climate ranging from 6 to 30 degrees Celsius, a 100% tax-free regime within the SEZ, and a currency whose value is closely aligned with the US dollar – much like Dubai.

“We’re witnessing the beginning of a revolutionary era – the democratization of cryptocurrency mining. By enabling anyone to mine a currency without government control, we’re participating in a groundbreaking movement that’s reshaping the world’s financial landscape,” said Francesco Colucci, Managing Partner at Omining.

In under-electrified markets, crypto mining operations can play a broader role. Kenya has made significant strides in renewable energy generation, yet in rural areas, grid expansion often remains economically infeasible due to low demand. Omining’s consistent, large-scale energy consumption and investments in the region can help stabilize long-term revenue for utility providers. This, in turn, adds to the long-term health of both infrastructure and access.

“The infrastructure we’re building is about more than just scale,” said Lorenzo Calligaris, CTO at Omining. “You need to be in environments that understand what you’re doing and let you move fast, but responsibly. That’s what we’ve had in Dubai, and now we’re applying that playbook in Kenya.”

Kenya’s positioning as an SEZ destination is rapidly gaining traction across multiple industries because of a skilled labor pool, and growing integration with global digital trade systems. Recent public commentary from Kenneth Chelule, CEO of the SEZ Authority, referenced the potential of crypto mining firms like Omining to contribute to SEZ employment and energy monetization.

Recently Phoenix Group also entered the African continent with operations in Ethiopia. expanded its operations into the burgeoning African market with the acquisition of an 80-megawatt (MW) power purchase agreement (PPA) in Ethiopia. This landmark deal, forged in partnership with Abu Dhabi-based cybersecurity firm Data7, marks a significant step in Phoenix Group’s global diversification strategy.

VARA Dubai launches Decentralized exchange pilot

VARA Dubai launches Decentralized exchange pilot

Dubai’s Virtual Asset Regulatory Authority is piloting a decentralized exchange project, (DEX), the first of its kind in the MENA region. DEX is a peer to peer marketplace where users can trade cryptocurrencies directly with each other without the need for a central intermediary, differing from centralized crypto exchanges.

According to Mathew White CEO of VARA in a LinkedIn post, ” The conversation around decentralised finance (DeFi) has evolved. Not long ago, the question was “Will it survive?”. Now it’s “How fast can we integrate it? At the Virtual Assets Regulatory Authority [VARA], we don’t see DeFi as a threat to traditional finance (TradFi), but a high-efficiency tool for accelerating its evolution.”

He notes that their DEX pilot, the first in MENA reflects Dubai’s ambition to be the first jurisdiction in the region with DEX regulations. He also notes that it will offer regulatory certainty.

He states, “We’re not afraid to move first, as long as we move responsibly. Dubai’s innovation appetite, combined with VARA’s balanced oversight, is creating one of the world’s most supportive environments for DeFi to thrive.”

The building blocks which are smart contract, DAOs, oracles, dApps, and wallet are not fringe technologies but offer a compelling solution to one of finance’s oldest problems, siloed capital and slow moving liquidity.

He notes that DeFi shrinks clearing cycles, and counterparty risk is replaced with transparent auditable code.

Over $110 billion are currently locked in DeFi protocols, access becomes open and participation global, by default.

He refers to ARK Invest’s Cathie Wood rwho ecently called it a “financial services revolution.” She highlights DeFi’s growing share of futures and spot trading volumes, and an even more striking metric – lending. With DeFi’s share jumping from 15% to over 60%, the implications are profound.

But DeFi has also had its risk with $787 million in losses in 2023, and $474 million in 2024.

This is why according to White, ” At VARA, we’ve built a risk-based licensing regime tailored for this next phase of finance. This includes outcome-based rules and principles, mandatory on-chain audit reports before full protocol licensing, and real-time monitoring of APIs to detect market stress long before retail users feel it. This isn’t regulation for regulation’s sake. It’s about building the guardrails that make innovation sustainable. And in Dubai, we’re not just writing policy – we’re piloting the future.”

Recently Lorenzo Valiente. Director of Research at Ark Invest, highlighted “strong, secular trends” in DeFi. Valente pointed out that despite market volatility and macro uncertainty, DeFi’s share in futures trading has grown from 1.6% to 7% since the fourth quarter of 2022, while its share in spot trading has surged from 7% to 20%.

DeFi’s share in lending also jumped, widening from 15% to over 60%. “DeFi isn’t just surviving — it’s scaling,” Valented said.

According to DeFiLlama, the decentralized cryptocurrency exchanges recorded a volume of $6.82 billion in the last 24 hours, with Uniswap UNI/USD and Raydium RAY/USD being the main drivers. The DEX-to-CEX dominance was over 25%, indicating that decentralized exchanges logged a quarter of the volume compared to centralized exchanges.

Earlier White noted on LinkedIn that the tokenization of real-world assets (RWAs) is no longer an experiment. He stated, “It’s happening right now.” He explained how VARA views tokenization as more than a blockchain use case but rather as a structural shift and the foundation for a new kind of financial system. He explains, ” Everything from real estate and art to commodities and IP can be digitally represented, owned and exchanged in real time.”

So VARA is working on two innovative implementations within the blockchain and crypto ecosystem in 2025, and maybe more to come.

DFSA starts second phase of tokenization testing license program

DFSA starts second phase of tokenization testing license program

The Dubai Financial Services Authority (DFSA), the independent regulator of the Dubai International Financial Centre (DIFC), has started the next phase of its Tokenization Regulatory Sandbox, beginning engagement with firms selected to join its Innovation Testing License program, the DFSA’s regulatory sandbox that allows entities to test innovative financial products and services under a controlled environment.

As per the press release, The DFSA’s Tokenization Regulatory Sandbox, launched in March 2025, received 96 expressions of interest from across the United Arab Emirates, United Kingdom, European Union, Canada, Singapore, and Hong Kong. The launch of the sandbox marks a major step forward in the DFSA’s strategy to support responsible financial innovation within the DIFC and reflects its growing focus on tokenization as a transformative force in financial services.

Applications included proposals to tokenize financial assets and instruments, such as bonds (including Islamic bonds, or sukuk), units in a fund (including money market funds and property funds), and the trading and safe custody of those assets. The initiative attracted strong interest from both established financial institutions wishing to explore tokenization use cases and innovative start-ups looking to scale breakthrough digital asset solutions in a regulated environment.

Speaking at the DFSA’s Policy & Legal Roundtable, Charlotte Robins, Managing Director, Policy & Legal, said, “The global interest in our Tokenization Regulatory Sandbox signals the importance of, and growing appetite for, responsible innovation, and recognizes the appeal of DFSA’s regulatory approach to innovation. As a regulator, our role is to support innovation and its positive contribution to the financial markets in ways that maintain market integrity and protect the public interest within the DIFC. By working closely with local and global firms through the sandbox, we are encouraging responsible innovation and helping to ensure that new ideas are tested against regulatory expectations.”

Following a detailed review, applicants were assessed based on their business model, clarity of use case, and readiness to test. Some firms were invited into the sandbox for live testing under the Innovation Testing Licence, while others were considered suitable for full authorisation under existing rules due to the maturity of their operations and experience in other regulated jurisdictions.

The DFSA will now work with the firms selected for the Innovation Testing Licence to co-develop bespoke testing plans. Sandbox participants will begin trials within a controlled environment in the coming weeks. The outcomes from this cohort will help inform future regulatory policy and potential refinements to the DFSA’s evolving digital assets and broader innovation frameworks.

UAE SaturnX stablecoin infrastructure provider raises $3 million

UAE SaturnX stablecoin infrastructure provider raises $3 million

UAE based SaturnX, the infrastructure provider for stablecoin-based cross-border payments, closes a $3 million seed round. The round was led by White Star Capital, with participation from strategic institutional investors. The company enables businesses and financial institutions to move money globally through an API-first platform that leverages stablecoin liquidity, smart FX routing, and regulatory-compliant payout networks. SaturnX supports cross-border payments in major remittance corridors and is rapidly expanding into Southeast Asia and Africa

Founded by Mirnas Brescic, who brings 15 years of experience in FX, treasury, and digital assets across institutions like Rain, Bitpanda and the IAEA, SaturnX serves as a behind-the-scenes API layer for B2B money transmitters, corporates and financial platforms. In just five months of operation, the company has already processed over $250 million in transaction volume, while maintaining profitability.

The capital will be used to accelerate SaturnX’s expansion into new payment corridors in Southeast Asia, including the Philippines, Bangladesh, Indonesia, Pakistan, strengthen regulatory infrastructure, and continue building its end-to-end API platform for enterprise-grade stablecoin payments.

As per the press release, with more than $600 billion in global annual remittance flows and rising demand for digital dollars in emerging markets, SaturnX is positioned to become a critical backend provider for the future of borderless payments by modernizing how money moves across borders, offering instant, low-cost stablecoin transfers for financial institutions, fintechs, and global remittance providers.

“Our vision is to connect the worlds of decentralised and traditional finance with infrastructure that brings the benefits of stablecoins to everyday financial use cases,” said Mirnas Brescic, CEO and Founder of SaturnX. “Despite considerable progress, cross-border payments are still expensive and slow. By offering a faster, cheaper, and programmable alternative, we’re helping financial partners unlock better ways to move money, starting with the world’s largest remittance corridors.”

The company pre-funds stablecoin liquidity pools in key markets, aggregates FX pricing in real time, and ensures regulatory compliance via partnerships and licensing pathways. Its flagship corridor, from the Gulf region to South Asia, collectively enables hundreds of millions in annual volume.

“We’re excited to back SaturnX at the forefront of a new payment infrastructure layer,” said Sep Alavi, General Partner at White Star Capital. “They’re operating in one of the most strategically important corridors globally, solving a massive pain point for cross-border remittances and B2B payments. Mirnas brings unmatched experience in FX, treasury, and crypto, and he’s already shown his ability to execute at speed.”

Speaking to Lara on the Block on the upcoming Genius Act for stablecoins in the USA, Brescic noted, “Regulation will bring the clarity and confidence required for a broader stablecoin adoption. It is definitely a positive development in the medium to long-term. SaturnX is stablecoin agnostic. With the regulatory clarity we see even more corporates using stablecoins to send or receive value globally. This is the market segment we want to support with our infrastructure.”


Dubai Land Department sells $1.3 million worth of tokenized real estate

Dubai Land Department sells $1.3 million worth of tokenized real estate

After two consecutive successful sales of tokenized properties in Dubai, the Dubai Land Department and PRYPCO Mint the tokenization platform behind these sales, have sold $1.3 million worth of tokenized property deeds after tallying the two tokenized property sales in past two weeks alone. This is just the beginning, as Dubai Land Department invites interested individuals to register early and set up their accounts to take advantage of upcoming offerings before they sell out.

Dubai Land Department is seeking to unlock investment opportunities in one of the world’s most dynamic and innovative real estate destinations. In its first tokenized real estate project, DAMAC Maison Prive, valued at $653,000, it attracted 224 investors from over 40 nationalities, with an average investment amount of AED 10,714 ( $2900), and more than 6000 investors who were wait listed.

The latest and second property was sold in less than two minutes and attracted 149 investors from 35 nationalities. The one bedroom apartment in Kensington Waters, also worth $653,000, it was sold out in less than 2 minutes. Shares were offered at $544 with a wait list of 10,700 investors.

According to Amira Sajwani, the founder and CEO of PRYPCO “With our second property, we’re continuing to break down traditional barriers and offer high-quality opportunities to a broader, more diverse audience. At PRYPCO, our mission is to democratize property ownership, and this is just the beginning.”

In May 2025, Dubai Land Department launched the region’s first tokenized real estate investment project through the ‘Prypco Mint’ platform. The initiative was implemented in partnership with Prypco, the Virtual Assets Regulatory Authority (VARA), the Central Bank of the United Arab Emirates, and the Dubai Future Foundation (DFF) through the Real Estate Sandbox.

As for blockchain technology Ctrl Alt is offering the blockchain platform using XRP Ledger, while Zand digital bank is offering banking services.

In future listings, international investors will soon be allowed to participate, but for now only UAE residents and ID holders can.

DLD emphasized in their announcement that tokenized assets will represent up to 7% of Dubai’s real estate market by 2033 equivalent to $16 billion and that Prypco Mint will be at the cornerstone of this transformation.

Saudi Arabia is also starting to pilot real estate tokenization projects.

The first Universal Basic Ownership pilot starts at Machine Economy Free Zone

The first Universal Basic Ownership pilot starts at Machine Economy Free Zone

peaq a global computer with borderless, decentralized, digital infrastructure for real-world apps. has partnered with Pulsar Group, an advisory firm in Abu Dhabi to launch a Machine Economy Free Zone (MEFZ), a dedicated sandbox environment for the Machine Economy in the UAE which The MEFZ will also include the world’s first pilot of “Universal Basic Ownership (UBO). To support the free zone, peaq is setting up its official HQ in the UAE to support the Machine Economy Free Zone on the ground

According to the peaq post, all around us, machines are already doing the work, driving, farming, scanning, delivering, answering our prompts. They’re creating real-world value, every second of every day. But turning the rise of the robots into a human-centric, decentralized economy — one where people can co-own, govern, and earn from the infrastructure that runs the world takes more than just code. It takes regulation, incentives, and physical and digital spaces to test and build.‍

The Machine Economy is a society in which humans and machines co-exist, co-create value, and thrive together in the Age of Abundance. It’s a human-centric economic paradigm where machines provide goods and services, earn income, and interact directly with people, businesses, and each other. Powered by AI and running on Web3, these machines can operate both autonomously and independently, generate real-world value, and share that value with the communities they serve.

The Machine Economy Free Zone sandbox will combine regulation, machine and infrastructure deployment, research, and investment in one place. A space for founders and policymakers to test, deploy, and scale new ideas for how humans and machines can build a future that works for all humans – and one day, for conscious machines too.

“We’re honored to be part of peaq’s transformative journey. peaq is redefining what’s possible for the future of the Machine Economy. By boldly bridging the physical and digital worlds through a decentralized, scalable, and sustainable Layer-1 blockchain, peaq is laying the foundation for a new era of real-world connectivity and autonomy. This is more than technology — it’s a movement, and we’re proud to help shape what comes next.” said Alyazi Al Khattal, CEO of Pulsar.
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Machine Economy Free Zone sandbox will focus on four key pillars

Regulation: As part of the MEFZ, peaq is working on the development and testing of a range of regulatory initiatives and sandboxes, such as compliant tokenization and investment into autonomous machines and robots.
Deployment: peaq is working with Emirati partners to set up physical and virtual sandboxes where founders can experiment with new business models and deploy apps, devices and technologies aimed at powering more advanced smart cities.
Investment: peaq is connecting top apps (DePINs) on peaq with the most visionary investment bodies and institutional partners in the region, enabling them to scale and deploy at lightning speed.
Innovation Hub: peaq is establishing a regional innovation hub focused on supporting DePIN (Decentralized Physical Infrastructure Network) apps in research and development, deployment, and connection with organizations interested in the value these apps provide.
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Among the first initiatives to be tested in the MEFZ is a framework for Machine Tokenization. This framework aims to make it easy for anyone to invest in robots and machines, from autonomous vehicles to vertical farms. It’s a key piece of Machine DeFi, peaq’s vision for a decentralized financial system where people can co-own and earn from real-world machines as they operate and generate value.

The MEFZ will also include the world’s first pilot of “Universal Basic Ownership (UBO)”. UBO explores how machine-generated income can be distributed directly to the communities affected by automation. No middlemen, no red tape just machines generating value, and people receiving a share of it.

Both of these initiatives will be tested, refined, and scaled in the Machine Economy Free Zone.

‍“The Machine Economy is no longer a far-fetched dream, it is a reality quickly shaping up before our very eyes. peaq makes this transformation work for everyone and the Emirates, as one of the most innovative nations in the world, is the perfect place to pilot this vision, setting a template and example for the rest of the world”, noted Till Wendler, co-founder of peaq
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Dubai VARA sees tokenization as a new kind of financial system

Dubai VARA sees tokenization as a new kind of financial system

Mathew White, CEO of Dubai’s Virtual Asset Regulatory Authority (VARA), recently noted on LinkedIn that the tokenization of real-world assets (RWAs) is no longer an experiment. He stated, “It’s happening right now.”

He explained how VARA views tokenization as more than a blockchain use case but rather as a structural shift and the foundation for a new kind of financial system. He explains, ” Everything from real estate and art to commodities and IP can be digitally represented, owned and exchanged in real time.”

He adds, “It’s a system of fractional ownership and near-instant settlement, where global markets are trustless, borderless, and always on. The illiquid can become liquid.”

He gives the example of BlackRock which sees tokenization as a democratization of investing. Its CEO Larry Fink envisions a world where every asset can be tokenized from stocks and bonds to entire funds.

The global tokenisation market was valued at $3.32 billion in 2024 and is projected grow to nearly $13 billion in 2032 – a CAGR of 18.3%.

He goes on to say that in Dubai, tokenized RWAs are a policy priority. He explains, “We’re building the infrastructure to make it all real – credible rules, secure frameworks, trusted intermediaries. We’re enabling the shift from analogue finance to digital ecosystems where anyone – regardless of size or geography – can participate, invest, and grow. Technology alone won’t deliver the future we want. It needs governance, credibility, guardrails, and trust.”

He notes that VARA is committed to creating a gold standard for oversight – a regulatory regime that’s clear, credible, and agile. “The idea is to protect without paralyzing. To not only supervise innovation, but to accelerate it.”

In his final words he says that Dubai intends to lead from the front.

Already Dubai has stated with the successful tokenization of real estate project with Dubai Land Department that happened a few weeks ago. In addition, the UAE Securities and Commodities Authority has licensed Emirates Coin Investment LLC (EmCoin) based out of Abu Dhabi UAE, as the first regulated integrated investment platform to offer both crypto investments as well as traditional assets such as equities, commodities, and even ICOs.

Regulated by the UAE Securities and Commodities Authority, Emirates Coin Investment will be able to serve the entire UAE.

Ripple stablecoin approved by Dubai DIFC regulator

Ripple stablecoin approved by Dubai DIFC regulator

Ripple, an enterprise blockchain and crypto solutions, RLUSD stablecoin has been approved as a recognized crypto token by the Dubai Financial Services Authority (DFSA) for use within the Dubai International Financial Centre (DIFC).


As per the press release, this approval reinforces RLUSD’s position as a trusted, enterprise-grade stablecoin, built with regulatory compliance, utility, and transparency at its core. Alongside today’s approval under the DFSA’s crypto token regime, RLUSD is one of the few stablecoins globally to be issued under a New York Department of Financial Services (NYDFS) Trust Company Charter.

“The DFSA’s approval of RLUSD is proof of our commitment to building a stablecoin that meets the highest standards of trust, transparency and utility,” said Jack McDonald, Senior Vice President of Stablecoins at Ripple. “With regulation-first design and enterprise-grade features, RLUSD is uniquely positioned to drive enterprise utility of blockchain technology across global markets, starting with cross-border payments.”

RLUSD has been purpose-built for global enterprise utility, particularly in improving the speed, cost and efficiency of cross-border payments. This recognition allows Ripple to integrate RLUSD into its DFSA-licensed flagship payments solution, combining the stability of a trusted digital dollar with a scalable, blockchain-based infrastructure and Ripple’s extensive global payout network.

This approval also enables other DFSA-licensed firms in the fast-growing DIFC to incorporate RLUSD into their virtual assets services. With almost 7,000 firms active at the end of 2024, this further supports the integration of high-quality stablecoins into Dubai’s burgeoning digital assets and fintech ecosystem.

Stablecoin adoption in the UAE is accelerating. According to market data, 2024 saw a 55% year-on-year increase in stablecoin transactions in the region, signalling strong demand for blockchain solutions that address the inefficiencies of traditional payment rails. With a $400BN+ market for international trade and one of the world’s most progressive regulatory frameworks for digital assets, the UAE is well-positioned to become a global hub for stablecoin innovation and utility.

“The UAE continues to set a global benchmark for forward-thinking digital asset regulation and innovation,” said Reece Merrick, Managing Director Middle East and Africa (MEA) at Ripple. “The DFSA’s approval of RLUSD is yet another step forward for Ripple’s operations in the region, and we’re seeing huge interest from businesses of all sizes for cross-border payments and digital asset custody solutions. The UAE’s digital economy is vibrant and incredibly dynamic, and we’re looking forward to working with our regional partners, customers and regulators to supercharge that growth.”

Earlier this month Ripple onboarded UAE Zand Digital bank and Mamo, while it also was used in Dubai Land Department tokenization of property platform.

Dubai Land Department and Ctrl Alt to build real estate tokenization platform on XRP

Dubai Land Department and Ctrl Alt to build real estate tokenization platform on XRP

UK, Ireland, and UAE based Ctrl Alt is the tokenization partner for Dubai Land Department aimed to tokenize real estate using XRP Ledger Blockchain. The initiative which is being carried out alongside VARA ( Dubai’s Virtual Assets Regulatory Authority), the Dubai Future Foundation, and PRYPCO seeks to tokenize real estate to develop the future of property investment in Dubai through fractional ownership.The initiative is projected to contribute to the growth of an AED 60 billion ($16 billion) tokenized real estate market by 2033, equivalent to 7% of Dubai’s total property transactions.

Ctrl Alt, is a B2B is a B2B infrastructure provider that makes structuring and investing in alternative asset classes efficient, cost-effective, and accessible. Launched in 2022 by Matt Ong (formerly of Morgan Stanley and Credit Suisse) to open up access to the growing world of alternative assets, Ctrl Alt has since become the leading expert in the sector. Through Ctrl Alt, businesses can structure and distribute private equity, infrastructure, private credit, films and more. This is achieved via their sophisticated technology stack which includes tokenization, that streamlines existing investment structures.

The Ctrl Alt team is composed of financial and product experts including alumni from Morgan Stanley, Credit Suisse, UBS and Revolut.

As the designated tokenization provider for the project, The DLD and Ctrl Alt have worked closely together on the development of a secure and compliant tokenization framework, focusing on structuring, minting and placing real estate title deed tokens on-chain. The XRP Ledger (XRPL), a decentralized layer 1 blockchain renowned for its decade-long reliability and stability in tokenizing and exchanging digital and real-world assets, has been selected as the blockchain of choice for the project.

Additionally, Ctrl Alt has integrated directly with the DLD to synchronize both digital and traditional real estate ledgers, ensuring coordination between the on-chain and the conventional property registration system. This enables a fully integrated and transparent tokenization process that aligns with local regulations and enhances investor confidence.

The project has been developed under the Real Estate Evolution Space Initiative (REES) and marks the first time in the Middle East that a government real estate registration authority has implemented a public blockchain-based tokenization of property title deeds. With this move, the DLD is leading the charge toward a more accessible, transparent and efficient real estate market, enabling fractional ownership, broadening investor participation and enhancing operational efficiency.

By leveraging native tokenization, ownership of real estate has been fractionalized, allowing multiple investors to co-own a single property. This is achieved through the PRYPCO Mint real estate platform, which is now live and allows investors to participate with a starting minimum investment of AED 2,000. EID holders are able to participate at mint.prypco.com.

Matt Ong, CEO and Founder, Ctrl Alt said, “We’ve been working closely with the DLD on this project for some time, and we’re delighted to be taking this major step together to bring real estate investment to a wider audience. As experts in the space, we are proud to create the tokenization infrastructure that enables DLD’s partners to offer fractional real estate to investors. Dubai’s leadership in embracing next-generation financial technologies is truly world-class and this project is a powerful signal of what’s to come. We’re thrilled to launch this pilot and continue building with DLD in the months ahead.”

LBank suspends UAE new users and disables trading for existing ones

LBank suspends UAE new users and disables trading for existing ones

LBank, a crypto exchange offering more than 800 crypto assets is seeking a license in UAE through Dubai’s Virtual Asset Regulatory Authority (VARA) and as a result they are implementing changes to ensure regulatory compliance and high standards of consumer protection and transparency which include suspending new user registrations from the UAE.

As per their blog post, “As part of our ongoing commitment to full regulatory compliance and responsible innovation, LBank is currently in the process of securing a Virtual Asset Service Provider (VASP) license under the Dubai Virtual Assets Regulatory Authority (VARA).
In alignment with regulatory expectations and to ensure the highest standards of consumer protection and operational transparency, the following temporary changes will apply to users accessing our services from the UAE.”

New user registrations from the UAE will be temporarily suspended, while existing UAE users will only be able to, cancel open orders
close active positions, withdraw funds. The blog post notes, deposits and new trading orders will be disabled during this interim period.

LBank stated, “We understand the importance of uninterrupted access and are working closely with regulators to complete the licensing process as efficiently and transparently as possible. This transition underscores our deep commitment to the UAE’s progressive regulatory framework and our goal to operate with full authorization and oversight under VARA. We appreciate your continued trust and patience as we work to build a safer, stronger, and fully compliant digital asset ecosystem in the UAE.”