Bitpanda has obtained a Broker-Dealer license from the Dubai Virtual Assets Regulatory Authority, marking its inaugural fully licensed venture beyond Europe.
This licensing allows Bitpanda to provide its digital asset platform to investors in the UAE, granting access to over 500 virtual assets, including cryptocurrency indices and savings plans.
Dubai has established itself as a prominent center for digital assets, with VARA ensuring regulatory clarity and safeguarding for investors.
Bitpanda aims to align with this vision, aspiring to set a new standard for safe and compliant virtual asset investment in the region.
The company has opened a permanent office at the DMCC Crypto Centre and has assembled a regional team to customize its services for the UAE market. Investor onboarding is set to commence in the upcoming months.
Earlier this year, Bitpanda received a MiCA license from Germany’s financial authority, enabling it to function within a unified regulatory framework across all 27 EU member states. This license created a comprehensive regulatory structure for Europe’s cryptocurrency sector, reducing previous fragmentation.
Commitment to Security and Regulation
Deputy CEO Lukas Enzersdorfer-Konrad underscored Bitpanda’s dedication to security and ease of access, stating, “With our VARA license, we are guaranteeing that investors and financial entities in the UAE can utilize a fully compliant digital asset platform.”
General Counsel Fabian Reinisch praised VARA’s forward-thinking framework, noting that the rapid approval highlights Bitpanda’s decade of regulatory experience and commitment to the utmost compliance standards.
Bitpanda boasts numerous regulatory agreements throughout Europe, including a MiCAR license from BaFin, registration with the UK FCA, a PSD2 E-money license, and a MiFID II license. Its regulatory-first strategy has positioned it as one of the most reliable platforms in the industry.