Universal Digital AEDU and Canadian Aquanow have received MVP ( Minimum Viable Product) provisional license approvals for several virtual asset licenses from Dubai’s Virtual asset regulatory authority (VARA). Universal Digital (AEDU) has applied for advisory license, broker dealer services, virtual asset custodial license, crypto exchange license, crypto lending and borrowing license, as well as management and investment service license.
In addition Canadian headquartered, digital asset platform has also received MVP provisional approval for advisory license, broker dealer license, and management investment service license.
Aquanow is a privately funded, infrastructure and liquidity provider that enables institutional and enterprise use-cases for digital assets. The company currently has 200 institutional clients, serving customers in 30 plus countries with 70 asset pairings.
This is another representation of increased interest in the UAE as a center for virtual assets, blockchain and crypto.