Dubai’s VARA has licensed its 50th crypto firm, though only 39 VASPs were fully operational at the end of 2025 as the emirate’s regulated market continues to expand.
Source: Cointelegraph
Dubai crypto market hits 50 licensed firms after new VARA approval
Dubai's cryptocurrency market has reached a significant milestone, with the approval of new licenses bringing the total number of licensed firms to 50. This growth follows the establishment of the Virtual Assets Regulatory Authority (VARA), which aims to create a robust regulatory framework for the burgeoning crypto industry. The recent approvals highlight Dubai's commitment to becoming a global hub for digital assets, attracting both local and international businesses. As the market expands, VARA is focused on ensuring compliance and fostering innovation, positioning Dubai as a leader in the evolving landscape of cryptocurrency regulation.