Dubai’s VARA grants WadzPay ‘initial approval’ of trading license

In the latest demonstration of the emirate’s crypto-friendly credentials, Dubai regulator, the Virtual Assets Regulatory Authority (VARA), has granted an “Initial Approval” license to WadzPay. WadzPay was founded in 2018 in Singapore as a business-to-business (B2B) technology firm. This licensing approval is a significant step forward for the startup, as it inches closer to obtaining a full-fledged Virtual Asset Service Provider (VASP) license. With this approval in hand, WadzPay is gearing up to offer a range of virtual asset services, specifically under the forthcoming VASP License for Transfer and Settlement, as well as Broker-Dealer trading activities.

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