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<p class="is-style-lead">Crypto asset service provider CoinMENA FZE has obtained a VASP license for virtual asset Broker-Dealer services from Dubai’s VARA.</p> 
<p>Until now, CoinMENA has been catering to clients in the UAE from its headquarters in Bahrain.</p> 
<h2 class="wp-block-heading" id="building-strong-relationships">Building strong relationships</h2> 
<p>CoinMENA will now operate from its Dubai Head Office, providing convenient money services to UAE users.&nbsp;</p> 
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   <p lang="en" dir="ltr">The news is out! CoinMENA is officially licensed in Dubai.<a href="https://t.co/lbOq7GHtti" target="_blank">https://t.co/lbOq7GHtti</a></p>— CoinMENA | كوين مينا (@CoinMENA) <a href="https://twitter.com/CoinMENA/status/1734893088554799149?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">December 13, 2023</a>
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<p>“Thanks to the regulatory clarity from VARA, Dubai is becoming a global hub for crypto and digital asset financial services,” CoinMENA co-founders Dina Sam’an and Talal Tabbaa said in a statement.</p> 
<p> “Building strong relationships with local regulators has been our priority since day one. We are delighted to have received a license from VARA, which further strengthens our market position and gives our users and investors confidence,” Sam’an added.</p> 
<p>Per the&nbsp;<a href="https://www.prnewswire.co.uk/news-releases/coinmena-fze-receives-a-vasp-license-for-va-broker-dealer-services-from-dubais-virtual-assets-regulatory-authority-vara-302013917.html?tc=eml_cleartime" target="_blank" rel="noreferrer noopener">Dec. 13 press release</a>, collaborating with VARA will enable the virtual asset provider to serve institutional and retail users in the Emirate while minimizing fiat-to-crypto transaction costs.</p> 
<p> You might also like: <a href="https://crypto.news/nine-blocks-becomes-first-crypto-hedge-fund-approved-by-dubais-vara/"> Nine Blocks becomes first crypto hedge fund approved by Dubai’s VARA </a> </p> 
<h2 class="wp-block-heading" id="a-global-crypto-hub">A global crypto hub</h2> 
<p>In 2022, Dubai announced aspirations to establish itself as a&nbsp;<a href="https://crypto.news/nine-blocks-becomes-first-crypto-hedge-fund-approved-by-dubais-vara/" target="_blank" rel="noreferrer noopener">global crypto hub&nbsp;</a>and subsequently engaged in discussions with VARA regarding the regulatory framework for digital asset operators.&nbsp;</p> 
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<p>Since then, various companies, including Binance, crypto.com, Hex Trust, and OKX, have obtained approval to establish regional operations and cater to customers.</p> 
<p> Read more: <a href="https://crypto.news/dubais-chief-crypto-regulator-exits-as-vara-prepares-to-fine-major-companies/"> Dubai’s chief crypto regulator exits as VARA prepares to fine major companies </a> </p>

CoinMENA earns Dubai VASP license for virtual asset brokerage

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