Based in Bahrain, the firm holds a license from the Central Bank of Bahrain as a crypto service provider.
In November, six entities secured a VARA license for crypto operations in Dubai.
CoinMENA
FZE, a subsidiary of CoinMENA B.S.C. (c), has obtained a Virtual Asset Service
Provider (VASP) license for VA Broker-Dealer services from Dubai’s Virtual
Assets Regulatory Authority (VARA). This license allows the company to operate
and offer its services in and from Dubai.
CoinMENA
FZE's Dubai Venture with VARA License
Headquartered
in Bahrain, CoinMENA is licensed by the Central Bank of Bahrain as a crypto
asset service provider (category-3). CoinMENA FZE, licensed as a VASP for
Virtual Asset Broker-Dealer services by VARA, seeks to empower investors in the
MENA region by providing access to crypto asset investment options.
The
platform allows users to buy, sell, store, and receive digital assets securely,
along with deposit and withdrawal options in their local currency. Up
until now, CoinMENA has been serving clients in the UAE from its base in
Bahrain. With the newly acquired VARA license, CoinMENA FZE can now serve
clients from its Dubai Head Office, utilizing local banking services and
providing UAE-based users with the convenience of instant money deposits and
withdrawals.
CoinMENA’s
Co-Founders, Dina Sam’an and Talal Tabbaa, expressed their appreciation for the
regulatory clarity provided by VARA, highlighting Dubai's emergence as a global
hub for crypto and digital asset financial services. Sam’an emphasized the
importance of building strong relationships with local regulators, stating that
the VARA license strengthens their market position and instills confidence in
users and investors.
Tabbaa
added: “Dubai is at the forefront of crypto growth and innovation,” and working
with VARA will enhance their ability to serve institutional and retail users in
the Emirate while reducing fiat-to-crypto transaction costs.
Surge
in VARA Licenses Signals Cryptocurrency Approval Wave
In
a previous report, Finance Magnates
noted that Fasset
FZE secured a VASP license from VARA, enabling the provision of
broker-dealer services through its web3-based financial platform. This license
is part of a growing trend, with Crypto.com and Ripple obtaining VARA
licenses for virtual asset services.
Notably,
Crypto.com's
branch, CRO DAX Middle East FZE, achieved this milestone, while Ripple's XRP
gained approval for usage within the Dubai International Financial Centre,
marking a significant recognition under the DIFC's virtual assets framework.
This
development has positioned XRP as the first virtual asset to receive such approval.
Finance Magnates reported on the increasing number of cryptocurrency entities
securing VARA licenses, including CFI, GCEX, HEX, and Ripple, highlighting
Dubai's growing prominence in the crypto industry.
CoinMENA
FZE, a subsidiary of CoinMENA B.S.C. (c), has obtained a Virtual Asset Service
Provider (VASP) license for VA Broker-Dealer services from Dubai’s Virtual
Assets Regulatory Authority (VARA). This license allows the company to operate
and offer its services in and from Dubai.
CoinMENA
FZE's Dubai Venture with VARA License
Headquartered
in Bahrain, CoinMENA is licensed by the Central Bank of Bahrain as a crypto
asset service provider (category-3). CoinMENA FZE, licensed as a VASP for
Virtual Asset Broker-Dealer services by VARA, seeks to empower investors in the
MENA region by providing access to crypto asset investment options.
The
platform allows users to buy, sell, store, and receive digital assets securely,
along with deposit and withdrawal options in their local currency. Up
until now, CoinMENA has been serving clients in the UAE from its base in
Bahrain. With the newly acquired VARA license, CoinMENA FZE can now serve
clients from its Dubai Head Office, utilizing local banking services and
providing UAE-based users with the convenience of instant money deposits and
withdrawals.
CoinMENA’s
Co-Founders, Dina Sam’an and Talal Tabbaa, expressed their appreciation for the
regulatory clarity provided by VARA, highlighting Dubai's emergence as a global
hub for crypto and digital asset financial services. Sam’an emphasized the
importance of building strong relationships with local regulators, stating that
the VARA license strengthens their market position and instills confidence in
users and investors.
Tabbaa
added: “Dubai is at the forefront of crypto growth and innovation,” and working
with VARA will enhance their ability to serve institutional and retail users in
the Emirate while reducing fiat-to-crypto transaction costs.
Surge
in VARA Licenses Signals Cryptocurrency Approval Wave
In
a previous report, Finance Magnates
noted that Fasset
FZE secured a VASP license from VARA, enabling the provision of
broker-dealer services through its web3-based financial platform. This license
is part of a growing trend, with Crypto.com and Ripple obtaining VARA
licenses for virtual asset services.
Notably,
Crypto.com's
branch, CRO DAX Middle East FZE, achieved this milestone, while Ripple's XRP
gained approval for usage within the Dubai International Financial Centre,
marking a significant recognition under the DIFC's virtual assets framework.
This
development has positioned XRP as the first virtual asset to receive such approval.
Finance Magnates reported on the increasing number of cryptocurrency entities
securing VARA licenses, including CFI, GCEX, HEX, and Ripple, highlighting
Dubai's growing prominence in the crypto industry.
We've Kicked Off Finance Magnates Africa Summit 2024! 🎉 #FMAS #FMAS24 #FMevents #FinanceMagnates
We've Kicked Off Finance Magnates Africa Summit 2024! 🎉 #FMAS #FMAS24 #FMevents #FinanceMagnates
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!