Dubais Crypto Boom: Bitpanda Gains VARA Approval for MENA Launch
Bitpanda has achieved a significant milestone by securing in-principle approval from the Virtual Assets Regulatory Authority (VARA) in the UAE. This marks the companys first expansion outside Europe, setting the foundation for its operations under the name Bitpanda Broker MENA DMCC. Dubais position as a regional digital finance hub provides Bitpanda with a strategic entry into the growing MENA cryptocurrency market.
Bitpanda Partners with RAKBANK and CoinMENA
The UAEs progressive regulatory environment has attracted Bitpanda to establish its operations in Dubai. The company has already set up an office at the DMCC Crypto Centre, facilitating its strategic push into the region. Bitpandas partnerships with RAKBANK and CoinMENA reflect its efforts to align with local financial institutions.
Bitpandas leadership believes that Dubais balance of innovation and investor protection aligns with its compliance-driven model. By leveraging VARAs framework, Bitpanda plans to provide secure and reliable access to digital assets. This expansion also bridges Europes rigorous regulatory standards with the UAEs dynamic and fast-growing crypto market.
Bitpanda Strengthens Compliance and Innovation Focus
Securing VARAs in-principle approval highlights Bitpandas strong focus on compliance and innovation. The company now aims to obtain full operational approval by meeting regulatory requirements. This includes setting up a fully functional office, implementing compliant infrastructure, and building a regional management team.
Bitpandas leadership emphasizes that the approval underlines VARAs clear guidelines and efficient processes. The move also enhances user trust and positions the company for long-term growth in the MENA region. With compliance as a cornerstone, Bitpanda continues to strengthen its presence in global markets.
Bitpandas global strategy includes offering advanced tools and forming key partnerships to serve ambitious traders. Its collaboration with Societe Generale Forge demonstrates its focus on integrating euro-backed stablecoins into the financial ecosystem. This aligns with the companys goal of facilitating secure and regulated digital asset access worldwide.
Additionally, Bitpanda recently launched Bitpanda Fusion, a high-volume trading product for experienced traders. The tool aggregates liquidity from leading exchanges to meet growing market demand. Bitpanda aims to cater to the needs of traders in the UAE and the broader MENA region.
Read more: https://www.tronweekly.com/dubai-crypto-boom-bitpanda-gains-vara-approval/
Text source: TronWeekly
