Bitpanda has received in-principle approval from Dubai VARA. Dubai is emerging as a global cryptocurrency hub with a supportive regulatory environment. Bitpanda plans to establish a regional headquarters in Dubai to expand globally.
Bitpanda, a prominent European digital asset platform, has achieved an important milestone by securing approval in principle from the Dubai Virtual Assets Regulatory Authority (VARA).
With this approval, the Austrian company establishes itself as the first European cryptocurrency company to enter Dubai's fast-growing digital asset market.
Dubai emerges as a crypto hub
Dubai has emerged as a global center of cryptocurrency and blockchain innovation, attracting leading companies from around the world. The United Arab Emirates (UAE) provides a safe and innovation-friendly environment for cryptocurrency businesses and investors with its advanced regulatory framework.
Bitpanda's approval reflects the company's commitment to compliance and transparency and highlights its compliance with the region's stringent regulatory requirements.
Following in-principle approval, Dubai will become Bitpanda's gateway to the global market and plans are already underway to establish a fully operational regional headquarters in Dubai.
According to Eric Demuth, co-founder and CEO of Bitpanda, Dubai’s status as a crypto-friendly city and its vibrant ecosystem make it an ideal launching pad for the company’s international ambitions. It has become.
“In Europe, we have built a reputation as the most trusted and regulated digital asset platform. We are now expanding this proven model globally, positioning Dubai and the UAE for our international expansion. We are using it as a strategic starting point. The opportunities are enormous and we are uniquely positioned to seize them,” Demuth said.
Bitpanda still requires additional approval for full privileges
Despite receiving in-principle approval, Bitpanda still needs to meet additional regulatory requirements to gain full authorization to operate in the UAE.
Nevertheless, the company's entry into Dubai represents its commitment to play a central role in the region's cryptocurrency ecosystem, contributing to the city's reputation as a global leader in digital asset innovation. I am doing it.
With plans to collaborate with other financial institutions in the UAE, Bitpanda is poised to solidify its presence in one of the world's most promising crypto markets.
