Dubai crypto market hits 50 licensed firms after new VARA approval

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.

The Virtual Assets Regulatory Authority (VARA), Dubai's crypto regulator, has granted its 50th virtual asset service provider (VASP) license.

On Monday, VARA said its latest approval went to tokenized assets platform Tribe Tokenisation FZE.

The milestone provides one measure of the growth of Dubai's crypto licensing regime, though license totals alone do not show how many firms are operational or the level of business they generate.

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