Aquanow, a leading digital assets infrastructure provider, has received initial approval from Dubai’s Virtual Asset Regulatory Authority (VARA). This recognition marks an important step for Aquanow as the company prepares to offer its full-suite of digital asset services in Dubai.

The approval from VARA comes after Aquanow demonstrated its comprehensive operational and compliance process. The company is now working towards completing all the necessary requirements to receive full approval to operate, which is expected to happen in the near future.

Aquanow views the UAE as a forward-thinking jurisdiction for digital assets regulation and sees Dubai as a key hub for its international growth efforts. The company is excited about the initial approval from VARA and looks forward to powering a range of digital asset use cases in the region.

As one of the largest digital asset liquidity providers, Aquanow serves financial services clients in 40 countries around the world. The company is rapidly expanding in the Middle East, with the UAE emerging as a hub for Web 3.0 innovation, hosting more than 500 crypto companies.

VARA, established in March 2022, is the first regulator of its kind to oversee virtual assets. Its goal is to create an advanced legal framework to protect investors, set international standards for the virtual assets industry, and enable responsible business growth in and from the Emirate.

Aquanow is a leading provider of digital assets infrastructure for institutional clients. The company facilitates billions of dollars’ worth of transactions each month and serves an international customer base that includes banks, neobanks, brokerages, and payment companies. With offices in Canada, Dubai, and Singapore, Aquanow has been operating since 2018.