B2Prime Group Granted Initial Approval for Virtual Asset Licensing by VARA

Jan 17, 2024

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B2Prime Group Receives Initial Approval for Licensing from Dubai Virtual Assets Regulatory Authority (VARA)

B2Prime Group Receives Initial Approval for Licensing from Dubai Virtual Assets Regulatory Authority (VARA)

Summary

B2Prime Group’s B2B Prime Digital MENA has been granted “Initial Approval” for licensing from the Dubai Virtual Assets Regulatory Authority (VARA), marking a significant milestone in their pursuit of a Virtual Asset Service Provider (VASP) License. The approval covers activities such as virtual asset exchange services, broker dealer services, and transfer and settlement services. B2B Prime Digital MENA will now move forward in the licensing process, subject to operational approval by VARA.

Introduction

B2Prime Group’s B2B Prime Digital MENA has achieved an important milestone with the granting of “Initial Approval” for licensing from the Dubai Virtual Assets Regulatory Authority (VARA). This approval allows B2B Prime Digital MENA to progress in the licensing process and offer comprehensive virtual asset services under a Virtual Asset Service Provider (VASP) License in the future.

Main Points

  • B2B Prime Digital MENA has received “Initial Approval” for licensing from VARA.
  • The approval covers activities such as virtual asset exchange services, broker dealer services, and transfer and settlement services.
  • Obtaining the VASP License is the company’s next goal.
  • The approval shows B2B Prime Digital MENA’s commitment to regulatory compliance and adherence to VARA’s guidelines.
  • B2B Prime Digital MENA aims to provide secure and streamlined access to virtual assets.
  • The company is working towards obtaining VARA’s Virtual Asset Service Provider license.

Conclusion

B2Prime Group’s B2B Prime Digital MENA has received “Initial Approval” for licensing from VARA, allowing the company to progress in the licensing process and offer comprehensive virtual asset services. This milestone reflects B2B Prime Digital MENA’s commitment to regulatory compliance and adherence to VARA’s guidelines. Obtaining the Virtual Asset Service Provider license is the company’s next goal as it aims to provide secure and streamlined access to virtual assets. This progress will enable B2Prime Group to introduce its innovative products and solutions to the market in Dubai.


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