Ethereum

United

when

Dubai

<a href="https://thecoinrise.com/bitpanda-expects-to-achieve-record-breaking-profits-in-q1-2024/" rel="noopener noreferrer nofollow">Vienna-based Bitpanda</a>, a prominent cryptocurrency exchange in Europe, says it has secured in-principle approval from Dubai regulatory authorities. The permission allows the exchange to enter the Dubai market legally, as long as it complies with stipulated guidelines.
<h2 id="b-vara-s-approval-and-the-bitpanda-regional-ambitions-b">VARA’s Approval and the Bitpanda Regional Ambitions</h2>
Notably, the Virtual Assets Regulatory Authority (VARA) in the United Arab Emirates (UAE) gave the green light within eight months of application.&nbsp; As per the<a href="https://www.zawya.com/en/press-release/companies-news/bitpanda-expands-globally-secures-in-principle-approval-from-vara-to-enter-uae-market-thq51dq1" rel="noopener noreferrer nofollow"> update</a>, VARA approved Bitpanda’s application after scrutinizing the company’s compliance actions.
Despite tagging the approval as “in-principle,” Bitpanda is sanctioned to provide certain specified services pending full license issuance. Users in the region can trade cryptocurrencies such as Bitcoin and Ethereum directly on the platform.
An update from Bitpanda pointed out that when fully licensed by the regulatory authorities, it would operate as Bitpanda Broker MENA DMCC. Bitpanda established its Dubai office at the DMCC Crypto Centre earlier this year. Upon unveiling the office, Bitpanda hired a team of regional experts to scale its operations in the area.
<h2 id="b-dubai-a-strategic-launchpad-for-crypto-growth-b">Dubai: A Strategic Launchpad for Crypto Growth</h2>
<a href="https://thecoinrise.com/bitpanda-and-raiffeisen-bank-unites-to-revolutionize-crypto-in-dubai/" rel="noopener noreferrer nofollow">Bitpanda collaborated with some financial institutions</a>, including the National Bank of Ras Al Khaimah (RAKBANK) to solidify its presence. It also partnered with CoinMENA, a leading licensed crypto platform. The partnerships remain critical to strengthening Bitpanda’s position and growth.
Bitpanda’s CEO and co-founder Eric Demuth emphasized that Dubai will serve as the exchange’s launchpad for international expansion. He claimed that Bitpanda has cemented its reputation already as the most trusted and regulated digital asset platform in Europe.
Demuth maintains that the exchange is now scaling this proven model globally, with Dubai and the UAE serving as a strategic entry point for international expansion. He assured Bitpanda that it remained uniquely positioned to seize opportunities as Europe’s leading crypto broker. Demuth said that it was sure of success as a top infrastructure provider in the digital assets space.
<h2 id="b-dubai-s-growing-attraction-for-digital-assets-b">Dubai’s Growing Attraction for Digital Assets</h2>
Analysts say Dubai is proving to be a key region for crypto activities. Besides Bitpanda, another exchange, OKX, entered Dubai in October. OKX’s entry into the UAE market will be done with a local platform serving retail and institutional investors.
In October,<a href="https://thecoinrise.com/ripple-expands-blockchain-payment-services-to-uae-with-dfsa-license/" rel="noopener noreferrer nofollow"> Ripple also gained regulatory approval to explore Dubai’s market</a>. Ripple currently offers its services from the Dubai International Financial Centre.
The post <a href="https://thecoinrise.com/bitpanda-secures-key-approval-to-revolutionize-crypto-in-dubai/" rel="noopener noreferrer nofollow">Bitpanda Secures Key Approval to Revolutionize Crypto in Dubai</a> appeared first on <a href="https://thecoinrise.com/" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

Bitpanda Secures Key Approval to Revolutionize Crypto in Dubai

Table of Contents

TheCoinrise Media

Other articles published on Dec 16, 2024

Ethena officially launches USDtb, stablecoin backed by BlackRock

Bitcoin at $106K All-Time High: $120M Liquidations Signal Momentum Toward $110K

Why Did Bitcoin (BTC) Rise? Will the Rally Continue? Analysts Explained!

Binance's 62nd Launchpool Project: What Is Vana?

Justin Sun's Bold Move: Will 53K ETH Buy Impact ETH’s Price?

Crypto Market Hits $3.61 Trillion as Bitcoin Surpasses $102K

Join our free newsletter for daily crypto updates!