Financial and Business News

BaFin MiCA Approval Follows VARA Broker-Dealer License for BitGo in Dubai

Tuesday, 07/10/2025 | 09:45 GMT by Tareq Sikder
  • The firm can now offer OTC and electronic spot trading for digital assets and stablecoins under VARA license.
  • Founded in 2013, the company is considering an IPO this year.
Bitgo

BitGo MENA FZE has received a Broker-Dealer license from the Dubai Virtual Assets Regulatory Authority, allowing it to offer regulated digital asset trading and intermediation services to institutional clients in the region. The approval marks another step in the company’s efforts to expand its regulated presence globally.

BitGo recently obtained approval under the European Union’s Markets in Crypto-Assets Regulation, granted by Germany’s BaFin. This authorization enables the company to provide digital asset services across the EU to both traditional financial institutions and crypto-focused firms seeking compliant infrastructure.

BitGo MENA Gains VARA Trading License

Nick Coombs, Managing Director of MENA Sales, Source: LinkedIn
Nick Coombs, Managing Director of MENA Sales, Source: LinkedIn

The new VARA license allows BitGo MENA to operate an over-the-counter and electronic trading platform for spot trading in digital assets and stablecoins.

Digital assets meet tradfi in London at the fmls25

Institutional clients will also gain access to aggregated liquidity from multiple market makers and exchanges, aimed at improving pricing and execution reliability.

“Our clients will benefit from competitive pricing and execution, alongside access to deep liquidity, with trading support for both AED and USD,” Nick Coombs, Managing Director of MENA Sales, commented.

BitGo Plans Potential IPO

BitGo is reportedly considering an initial public offering in the second half of 2025. Discussions with potential advisors are reportedly ongoing, but no final decision has been made.

Founded in 2013, BitGo provides digital asset custody, trading, borrowing, and lending services to institutional clients across multiple countries. The firm is backed by major investors and competes with other crypto custodians, including Coinbase. Other cryptocurrency firms, such as Gemini, Bullish Global, Kraken, and Circle, are also reported to be exploring public listings.

BitGo MENA FZE has received a Broker-Dealer license from the Dubai Virtual Assets Regulatory Authority, allowing it to offer regulated digital asset trading and intermediation services to institutional clients in the region. The approval marks another step in the company’s efforts to expand its regulated presence globally.

BitGo recently obtained approval under the European Union’s Markets in Crypto-Assets Regulation, granted by Germany’s BaFin. This authorization enables the company to provide digital asset services across the EU to both traditional financial institutions and crypto-focused firms seeking compliant infrastructure.

BitGo MENA Gains VARA Trading License

Nick Coombs, Managing Director of MENA Sales, Source: LinkedIn
Nick Coombs, Managing Director of MENA Sales, Source: LinkedIn

The new VARA license allows BitGo MENA to operate an over-the-counter and electronic trading platform for spot trading in digital assets and stablecoins.

Digital assets meet tradfi in London at the fmls25

Institutional clients will also gain access to aggregated liquidity from multiple market makers and exchanges, aimed at improving pricing and execution reliability.

“Our clients will benefit from competitive pricing and execution, alongside access to deep liquidity, with trading support for both AED and USD,” Nick Coombs, Managing Director of MENA Sales, commented.

BitGo Plans Potential IPO

BitGo is reportedly considering an initial public offering in the second half of 2025. Discussions with potential advisors are reportedly ongoing, but no final decision has been made.

Founded in 2013, BitGo provides digital asset custody, trading, borrowing, and lending services to institutional clients across multiple countries. The firm is backed by major investors and competes with other crypto custodians, including Coinbase. Other cryptocurrency firms, such as Gemini, Bullish Global, Kraken, and Circle, are also reported to be exploring public listings.

Topics
Bitgo
institutional
crypto
dubai
VARA
About the Author: Tareq Sikder
Tareq Sikder
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A Forex technical analyst and writer who has been engaged in financial writing for 12 years.

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