Why did Dubai's Virtual Assets Regulatory Authority issue its 50th crypto licence?

Dubai's Virtual Assets Regulatory Authority (VARA) issued its 50th virtual asset service provider licence as regulated activity in the emirate continues to expand. The latest approval was granted to Tribe Tokenisation FZE, although newly licensed firms may not begin operating immediately.

What does Dubai's 50 licensed crypto firms mean for the market?

Dubai's Virtual Assets Regulatory Authority (VARA) has now licensed 50 virtual asset service providers, although only 39 were classified as fully operational at the end of 2025. The figures show continued growth in Dubai's regulated digital asset sector while operational launches continue after licensing.

How is Dubai's crypto licensing framework different from Singapore and Hong Kong?

Dubai's Virtual Assets Regulatory Authority (VARA) operates a dedicated licensing regime for virtual asset service providers. By comparison, Singapore regulates digital payment token services under its broader payments framework, while Hong Kong's licensing regime focuses specifically on virtual asset trading platforms.

What does an active VARA licence allow a crypto company to do?

A licence from Dubai's Virtual Assets Regulatory Authority (VARA) allows a company to progress towards offering regulated virtual asset services, but it does not necessarily mean commercial operations have begun. Newly licensed firms may complete an operational readiness process before onboarding customers.

Why is Dubai expanding its regulated crypto market?

Dubai established the Virtual Assets Regulatory Authority (VARA) in 2022 to attract digital asset businesses through a dedicated regulatory framework. The regulator also monitors transaction volumes, assets under management, employment and audited financial data when assessing market activity.

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Dubai approves 50th crypto licence through VARA

Written by Brie CarterPublished Jun 29, 2026, 5:26 AM

Dubai's Virtual Assets Regulatory Authority approved its 50th virtual asset service provider licence.
The approval expands Dubai's regulated crypto market, although only 39 licensed firms were fully operational at the end of 2025.
VARA said newly licensed companies may complete an operational readiness process before launching commercial services.

Dubai's Virtual Assets Regulatory Authority (VARA) approved its 50th virtual asset service provider licence by authorising Tribe Tokenisation FZE, marking another step in the expansion of the emirate's regulated digital asset sector.

The latest approval follows 39 licensed virtual asset service providers becoming fully operational by the end of 2025, while a VARA spokesperson said an updated operational figure for 2026 is still being validated.

A VARA spokesperson said, "Holding an active licence does not necessarily mean a firm has completed its commercial launch," adding that newly licensed businesses may complete a controlled operationalisation process before onboarding customers.

The regulator said licence totals alone do not indicate the level of commercial activity, and it also monitors transaction volumes, assets under management, employment and audited financial data when assessing market activity.

Following the announcement there was no share price reaction because VARA is a government regulator and not a publicly listed company.

Dubai established VARA in March 2022 as a dedicated regulator for virtual asset businesses and has introduced a standalone licensing framework designed to support regulated digital asset companies.

VARA has now issued more licences than comparable crypto regulatory regimes in Hong Kong and Singapore, although each jurisdiction authorises different categories of businesses, making direct comparisons difficult.