Dubai’s Virtual Assets Regulatory Authority (VARA) has granted 36 full licences to entities in the digital asset sector, marking a major step in the city’s bid to become a global hub for virtual finance and innovation.
According to VARA CEO Matthew White, several hundred more firms are currently navigating the licensing process, with applications continuing to arrive from international players eager to enter the Dubai market. The ecosystem now spans over 400 registered entities involved in blockchain services, proprietary trading, and related fields.
White highlighted a groundbreaking partnership between VARA and the Dubai Land Department that enables fractional ownership of real estate through tokenised assets. This initiative, launched in early 2025, has already attracted 300 investors—70% of whom are first-time property owners in Dubai—via the successful listing of two properties.
Looking ahead, VARA plans to expand tokenised real estate offerings to trading platforms, enhancing accessibility and liquidity. The Authority is also piloting projects in tokenised gold and decentralised finance (DeFi), signalling further integration of digital alternatives into mainstream finance.
Established in 2022, VARA plays a central role in advancing the Dubai Economic Agenda D33 by fostering innovation, ensuring investor protection, and building a regulatory environment that supports the growth of the digital economy.
White reaffirmed VARA’s commitment to enforcement and oversight, noting the use of data-driven supervision tools, detailed marketing guidelines, and proactive measures against unauthorised activity. The Authority works closely with other UAE regulators to ensure market integrity and consumer trust.
News Source: Emirates News Agency
