Bitpanda, the European digital asset platform, has received preliminary approval from the Virtual Asset Regulatory Authority (VARA) of Dubai. This recognition marks a fundamental turning point for the company. 

Let’s see all the details in this article. 

The preliminary authorization from VARA in Dubai opens new prospects for Bitpanda

As anticipated, Bitpanda has received preliminary approval from the Virtual Asset Regulatory Authority (VARA) of Dubai.

Obtaining this authorization demonstrates compliance with local regulations and strengthens Bitpanda’s position as a leader in the cryptocurrency sector.

Furthermore, Dubai confirms itself as a key destination for financial innovation, attracting digital asset companies thanks to cutting-edge regulations that promote technological growth. 

Eric Demut, co-founder and CEO of Bitpanda, described the city as “a strategic starting point” for the company’s international expansion. 

The entry of Bitpanda into the United Arab Emirates market represents not only an opportunity for economic growth, but also a strengthening of its global presence, already established in Europe.

The approval of VARA is a first step that requires further adjustments before obtaining a full license. 

Bitpanda will have to meet additional requirements, such as opening a local office, forming a regional management team, and implementing a compliance infrastructure adhering to strict regulatory standards. 

This path, although complex, highlights the company’s determination to comply with market rules and to operate with transparency.

A growing ecosystem

The United Arab Emirates are establishing themselves as a hub of attraction for the cryptocurrency sector, thanks also to initiatives like the DMCC Crypto Centre in Dubai. 

This innovative ecosystem allows companies to collaborate with key stakeholders to promote the adoption of advanced technologies. 

Bitpanda, in its expansion plan, aims to build strategic partnerships that can further strengthen its positioning in the region.

In any case, it is not only in Dubai that Bitpanda is making significant progress. Recently, the company has formed a partnership with Société Générale-Forge, a blockchain subsidiary of the banking group Société Générale.

This collaboration focuses on expanding the use of stablecoin, with particular attention to the EUR CoinVertible (EURCV), to make them a central element of the global financial system.

The synergy between Bitpanda and Société Générale represents a step forward towards the integration of traditional and digital finance.