B2Prime has announced that B2B Prime Digital MENA has swiftly and confidently cleared the “Initial approval” step with the Dubai Virtual Assets Regulatory Authority (VARA).
While this is just the first milestone among many others in the complex process of acquiring the final license, the B2Prime group is confident in its capabilities. The remaining steps include operational approval checks and pre-operating condition compliance.
With the VARA license in place, companies are generally allowed to provide a wide range of services related to brokerage. The list of offerings includes broker-dealer services, exchange of virtual assets, and also the transfer/settlement capabilities.
The Role of VARA in Regulating the Dubai Region
The Dubai Virtual Assets Regulatory Authority, commonly referred to as VARA, is the highest license authority within the Dubai premises and is responsible for monitoring and supervising virtual assets and related activities. Their jurisdiction includes the free zones and special development zones. However, VARA has no authority over the Dubai International Financial Centre.
VARA is an indispensable regulatory body when it comes to Dubai’s regulatory prowess. VARA ensures the security of investors and supervises the best regulatory practices within the Dubai virtual asset industry. VARA’s presence was invaluable in stabilising the Dubai virtual currency scene and achieving impressive growth.
Visit to learn more about the tasks and responsibilities of VARA: www.vara.ae
The Significance and Implications of VARA Approval
With this licence, B2B Prime Digital MENA will be able to provide the full range of brokerage services, such as Broker-Dealer services, significant exchange capabilities, and virtual asset settlement or transfer throughout the Dubai area.
As a result, the B2Prime Group will be able to introduce its services within the Dubai region and create a new customer base for its growing liquidity powerhouse.
Founder of B2Prime, Mrs. Eugenia Mykuliak, stated that this accomplishment was crucial to breaking into the Dubai market and providing excellent brokerage services.
B2Prime’s Comments on the Milestone and Future Plans
In order to begin offering the aforementioned services in the Dubai region, B2B Prime Digital MENA must complete certain approval processes.
However, things are moving along well, and obtaining the full license will become a reality in the following months. After learning the news, the team behind globally renowned liquidity solutions was understandably happy and motivated.
Mr. Arthur Azizov, co-founder of B2B Prime Digital MENA, stated, “We are incredibly proud and grateful to have received initial approval from VARA, which is a testament to our determination to maintain the highest standards in regulatory compliance.” Arthur described how B2B Prime’s presence will be a huge plus for Dubai’s surging virtual currency market.
Paredes Herrera, CEO of B2B Prime Digital MENA, has also highlighted the importance of this accomplishment by saying that the team has been inspired to put in twice as much effort to get the result and obtain the full licence. The B2B Prime team is dead set on hitting the milestone, even if the path won’t get any easier in the future.
After obtaining the licence, B2B Prime Digital MENA will be fully equipped to operate inside Dubai’s legal jurisdiction and offer the group’s well-known liquidity solutions. The roadmap for this finalisation seems closer than ever before.
Why is B2Prime’s Arrival in Dubai A Big Deal?
Given its diverse selection of liquidity products and superior service quality, B2Prime’s decision to relocate its operations to Dubai is a significant advancement for the area.
At the moment, B2Prime is licenced in Mauritius and Cyprus. Because of its consistency, breadth of offerings, and equal proficiency across several markets—including Forex and cryptocurrency CFDs—it is recognised as one of the world’s leading liquidity providers.
B2Prime also provides cutting-edge aggregation solutions, minimal connection latency, and hosting services of an institutional calibre. The group is committed to offering the most excellent liquidity services worldwide. Therefore, this intriguing addition to the Dubai liquidity market will have a significant positive impact on Dubai’s virtual currency landscape.
For more info, please check www.b2prime.com.
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