Latest news with #VARA


Gulf Business
4 days ago
- Business
- Gulf Business
PRYPCO Mint hits Dhs9m in tokenised property sales in first month
Image: Supplied/ Prypco Mint PRYPCO Mint, the MENA region's first real estate tokenisation platform, has crossed Dhs9m in tokenised property investments within a Licensed by Dubai's Virtual Assets Regulatory Authority ( The platform enables fractional ownership of premium properties, making real estate more accessible through blockchain technology. PRYPCO Mint has struck a chord with investors Since going live, PRYPCO Mint has attracted investors from over 50 nationalities living in the UAE. Properties listed on the platform are fully funded in minutes, with an average funding Among the standout investments are a unit in Sobha Creek Vistas Grande, which was funded in 10 minutes by 213 investors from 38 nationalities, and a unit in Liv Residence, Dubai Marina, funded in 3 minutes by 258 investors from 47 nationalities. Average investment sizes were Dhs7,512 and Dhs7,210, respectively. 'This momentum shows just how strongly the market is moving toward tokenised real estate,' said Amira Sajwani, founder and CEO of PRYPCO. 'Investors are looking for transparency, flexibility, and access to high-value markets with lower entry barriers.' With government backing and regulatory clarity, PRYPCO Mint is positioning itself as a frontrunner in digital property ownership in the UAE.


Arabian Business
5 days ago
- Business
- Arabian Business
Dubai real estate: PRYPCO Mint tokenises $2.5m of property in first month
Dubai tokenised real estate platform PRYPCO Mint surpassed AED9m ($2.45m) in property investments just one month after launch, marking a groundbreaking start in the fast-growing digital real estate sector. Backed by the Dubai Land Department (DLD) and licensed by the Virtual Assets Regulatory Authority (VARA), PRYPCO Mint is the first platform in the world to tokenise a title deed in partnership with a government entity. The platform offers fractional ownership of premium Dubai properties, lowering the barrier to entry for real estate investors and opening the market to a broader, global audience. Dubai tokenised real estate investment Since launching, the platform has attracted investors from more than 50 nationalities, all based in the UAE. Properties listed on PRYPCO Mint are being fully funded in record time—with the average sale completing in just three minutes. Recent examples include: Sobha Creek Vistas Grande: Fully funded in 10 minutes by 213 investors from 38 nationalities, with an average investment of AED7,512 ($2,045) Liv Residence, Dubai Marina: Fully funded in three minutes by 258 investors from 47 nationalities, averaging AED 7,210 ($1,962) per investor By enabling fractional property ownership, PRYPCO Mint is reshaping how people invest in real estate—making Dubai's prime property market accessible to smaller investors. Through a secure, compliant framework regulated by VARA and supported by DLD, the platform allows for transparent, real-time investments via blockchain technology. Amira Sajwani, Founder and CEO of PRYPCO, said: 'PRYPCO Mint's incredible momentum demonstrates how strongly the market is gravitating towards tokenized real estate. Investors today want flexibility, transparency, and the ability to participate in high-value property markets with lower entry barriers. 'We're excited to see demand for tokenized properties growing every day, as more people recognise this as the future of real estate investment.' With demand accelerating and government partnerships in place, PRYPCO Mint is poised to scale across new asset classes and potentially expand regionally. The company positions itself as a key player in Dubai's push to integrate virtual assets and blockchain into real-world sectors.


Khaleej Times
5 days ago
- Business
- Khaleej Times
Shifting sands: The UAE is solidifying its global crypto takeover
The Middle East is not taking a back seat in the digital revolution. Once it banked on its natural resources like oil, today, it leads in the digital asset sphere. Europe and the USA are the spark that ignited the crypto adoption race, but it is Middle Eastern countries like the UAE that now hold the torch. The Western complexity The Western hemisphere has had crypto regulations for some time now, and authorities are updating digital asset regulations in 2025. However, unlike the UAE (with its well-thought-out planning), jurisdictions like the EU are running headlong into a quagmire. Markets in crypto-assets (MiCA), payment services directive (PSD2), transfer of fund regulations (TFR), and other rules meant to smooth out wrinkles are more of a hindrance. Carrying different requirements, sometimes these overlap, confusing an already complex environment. And member countries having their own internal regulations simply add more layers of uncertainty. In an industry where less is more, the UAE's course of action not only makes sense, but it has also helped the tiny nation lead digital assets and crypto innovation. Crypto industry gravitating towards the East Rather than take a stumble, learn, and improve approach, the UAE laid the foundations for a transparent, efficient, and effective framework back in 2017. Studying what other jurisdictions lacked, the Virtual Assets Regulatory Authority (VARA) was established in 2022. VARA is the first ever independent regulatory authority for crypto assets, with the most concise, user-friendly, and clear vision. Unlike the European approach, VARA offers legal clarity, strategically encourages a pro-blockchain environment, and integrates crypto into the mainstream financial system. While other major players like the EU only concentrate on regulating the industry (with complex and confusing rules), industry players are looking for better pastures. For many, the answer is the digital asset-friendly Emirates. First mover advantage Aiming to facilitate institutional investors and HNWI looking for crypto exposure, Dubai-based World Golden Gate (WGG) takes full advantage of VARA clarity. Understanding the benefits of a regulatory compliant platform early on, Dmytro Kostin, the founder of WGG, kicked off the licensing process before the mainstream industry followed. Under his vision, WGG is awaiting Stage 2 license clearance. While the final approval is pending, advancing into the second stage reflects WGG's compliance with VARA through a robust internal framework and understanding of how this can pivot the firm in the right direction. WGG acts as a principal trader, executing 80% of its clients' orders against itself. No counterparty risk, no public order books. Other features include on/off-ramping for fiat, enabling hassle-free purchase and sale of crypto. With non-custodial services and 1:1 backing, World Golden Gate aims to be a highly secure and transparent crypto brokerage service. Built with VARA's regulatory framework in mind, its operational model adds an element of trust that many others lack. The Emirates sees virtual assets not just as an industry that needs oversight, but as a technology that is being integrated at all levels. When a country starts using an innovation itself, it not only becomes a friendly place for entrepreneurs, startups, and the industry, but also a partner in the progress. Once behind Europe and the USA, the UAE now leads the digital asset sphere. In the midst of all this, World Golden Gate is prepping up to take the full regulatory-friendly environment of the UAE.


Zawya
5 days ago
- Business
- Zawya
PRYPCO Mint marks groundbreaking milestone with AED 9mln in tokenized property investments in just one month
Dubai, UAE: PRYPCO Mint, MENA's first real estate tokenization platform and the world's first to partner with a government entity, the Dubai Land Department (DLD), to tokenize a property title deed, has announced a record-breaking start to its journey, surpassing AED 9 million in tokenized real estate investments within just one month of launch. Licensed by the Virtual Assets Regulatory Authority (VARA), PRYPCO Mint underscores its commitment to secure, compliant, and transparent real estate investing. The platform empowers investors to achieve real estate freedom through fractional ownership of premium properties, transforming how people access, invest in, and own real estate. Since its launch, PRYPCO Mint has attracted investors from more than 50 nationalities based in the UAE. Properties listed on the platform are being fully funded in record-breaking times, averaging just three minutes per property, a powerful testament to the rising demand for tokenized real estate and the desire for more accessible, flexible investment opportunities. Among PRYPCO Mint's recent successes are two premium apartments in Sobha Creek Vistas Grande and Liv Residence in Dubai Marina, both located in some of Dubai's most sought-after communities. The Sobha Creek Vistas Grande property was fully funded in just 10 minutes by 213 investors from 38 nationalities, with an average investment size of AED 7,512. Meanwhile, Liv Residence in Dubai Marina achieved full funding in an impressive 3 minutes, attracting 258 investors from 47 nationalities, with an average investment size of AED 7,210. These milestones reflect the platform's growing appeal among a diverse investor base seeking swift and accessible opportunities in prime real estate. Commenting on the platform's rapid success, Amira Sajwani, Founder and CEO of PRYPCO, said: 'PRYPCO Mint's incredible momentum demonstrates how strongly the market is gravitating towards tokenized real estate. Investors today want flexibility, transparency, and the ability to participate in high-value property markets with lower entry barriers. We're excited to see demand for tokenized properties growing every day, as more people recognise this as the future of real estate investment.' PRYPCO Mint's strategic partnership with DLD cements its role as an industry pioneer, delivering a secure, government-backed pathway into digital property investments and fractional real estate ownership. To learn more and register for early access, visit About PRYPCO PRYPCO is a next-generation proptech company revolutionising the real estate landscape. Led by Amira Sajwani, PRYPCO delivers a range of innovative solutions, including PRYPCO Golden Visa, PRYPCO Mortgage, PRYPCO Blocks for fractional ownership, PRYPCO One for agents, and the recently launched PRYPCO Mint—the region's first tokenised real estate platform. Rooted in the spirit of Dubai's ambition, PRYPCO is driving the future of real estate, helping position the city as a global leader in innovation and opportunity. For enquiries and more information, please visit: Dubai Land Department: PRYPCO: VARA:


Crypto Insight
15-07-2025
- Business
- Crypto Insight
Why crypto millionaires are moving to the UAE (these 5 reasons explain everything)
With no personal income or capital gains tax and recent VAT exemptions on crypto transactions, the UAE provides an unmatched financial incentive for crypto investors. Dubai's VARA and Abu Dhabi's FSRA lead with retail and institutional frameworks, while RAK, Sharjah and others are developing tailored zones and policies for Web3 innovation. Free zones like DMCC, ADGM and DIFC offer business-ready ecosystems, while high-speed internet, 5G and cloud services make the UAE a plug-and-play hub for crypto firms. The Golden Visa, safety, global connectivity and smart city living combine to offer crypto millionaires not just financial freedom but a secure, luxurious home base. In recent years, the United Arab Emirates (UAE) has emerged as a magnet for crypto millionaires. Across all seven emirates — from cosmopolitan Dubai and Abu Dhabi to rising hubs like Ras Al Khaimah and Sharjah — the UAE offers an enticing mix of zero taxes, clear regulations, cutting-edge infrastructure, visionary government support and an unrivaled lifestyle. Specifically, a growing number of high-net-worth crypto investors are calling Dubai and Abu Dhabi home. This trend is significant: The UAE is now the world's top destination for migrating millionaires, with an estimated 9,800 millionaires projected to move to the UAE in 2025 alone. The country's appeal is fueled by strategic government choices: regulatory reforms, favorable tax policies and even long-term residency options like the Golden Visa. In other words, a combination of business-friendly policies and an enviable living environment is driving this UAE crypto migration. Below, this article breaks down five key policies and factors behind this phenomenon. 1. Tax-free crypto profits: Zero taxes on income and gains The UAE's zero-tax policy on crypto gains — no income tax, no capital gains tax — is a prime draw for global crypto investors. Crypto millionaires in the UAE enjoy 100% tax-free crypto profits, as the nation imposes no personal income tax or capital gains tax on individuals. This means Bitcoin billionaires, non-fungible token (NFT) moguls and startup founders can cash out or reinvest their digital wealth without handing a cut to the taxman — a stark contrast to high-tax jurisdictions in Europe or North America. Even after the UAE introduced a 9% federal corporate tax in 2023, personal crypto holdings remain untaxed and tax-free crypto profits are fully legal. Crucially, the government has gone a step further by exempting most crypto transactions from the 5% value-added tax (VAT). In late 2024, the UAE's Federal Tax Authority announced that cryptocurrency transfers and conversions would be VAT-exempt effective Nov. 15, 2024 (retroactively applied to transactions since 2018). This VAT exemption covers crypto trading and exchange services, treating them on par with other financial services. The result is a virtually tax-free environment for crypto market participants, whether they are mining Bitcoin, trading on exchanges or realizing gains from token investments. Industry insiders highlight that the UAE's combination of clear regulations and zero capital gains tax has created the 'perfect environment for crypto growth.' Did you know? Over 74% of UAE residents aged 25-34 are interested in crypto, and 21% plan to enter the market within the next 12 months. 2. Regulatory clarity: World-leading crypto frameworks in Dubai, Abu Dhabi and beyond Clarity and certainty in regulation are paramount for crypto entrepreneurs, and the UAE delivers with pioneering frameworks. Dubai: Retail-focused clarity Dubai led the charge by establishing the Virtual Assets Regulatory Authority (VARA) in 2022, the world's first regulator dedicated exclusively to virtual assets. Backed by Dubai's new virtual asset law, VARA provides clear licensing regimes for exchanges, crypto platforms and token issuers, instilling confidence for companies setting up shop. Major crypto exchanges such as Binance and have obtained VARA licenses, reflecting Dubai's attractiveness under well-defined rules. Abu Dhabi: Institutional-grade compliance Meanwhile, Abu Dhabi was an early mover in crypto oversight through the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). As far back as 2018, the FSRA introduced a comprehensive regulatory framework for virtual assets, the first of its kind in the Gulf Cooperation Council region, covering everything from exchange licensing to custody rules. This regulatory clarity in the ADGM has drawn institutional players; by late 2023, global firms such as Copper, Paxos and eToro had expanded into Abu Dhabi under the FSRA's purview. Abu Dhabi's approach typically targets institutional and high-capital crypto activities, complementing Dubai's more retail-focused market. Crucially, the UAE is working to harmonize crypto regulations federally: Dubai's VARA and the UAE's Securities and Commodities Authority (SCA) struck an agreement on mutual recognition, allowing VARA-licensed firms to operate across the UAE. This means a crypto exchange licensed in Dubai's free zone can serve customers in other emirates, further integrating the national market. Ras Al Khaimah: Specialized Web3 jurisdiction Other emirates are also advancing regulatory initiatives. Ras Al Khaimah (RAK) made headlines by launching the RAK Digital Assets Oasis (RAK DAO), touted as the world's first free zone exclusively for digital asset companies. Established by law in 2023, RAK DAO is a specialized zone with independent authority under the new Department of the Future, granting it financial and legislative autonomy to craft crypto-friendly rules. It targets Web3 and virtual asset service providers, from metaverse builders to NFT platforms, offering them a tailor-made, common-law regime. This bold move positions RAK as a future-focused jurisdiction keen to attract blockchain business. Sharjah, Ajman, UAQ, Fujairah: Emerging frontiers Likewise, Sharjah has shown interest in blockchain applications. Umm Al Quwain and Ajman are exploring fintech and digital economy initiatives, signaling that every emirate is embracing innovation. While Dubai and Abu Dhabi set the regulatory gold standard, the unified theme is clarity, clear rules, specialist regulators and proactive laws, which gives crypto investors and companies the confidence to relocate to the UAE knowing where they stand legally. Did you know? Telegram founder Pavel Durov has called Dubai home since 2017 and is now a UAE citizen. Once named the richest expat in the UAE, he ranked as the world's 120th richest person in 2024. 3. Cutting-edge infrastructure: Crypto zones, hubs and innovation ecosystems A supportive infrastructure underpins the UAE's crypto appeal. Across the emirates, there's a network of free zones, hubs and accelerators purpose-built for fintech and digital assets. Dubai In Dubai, the Dubai Multi Commodities Centre (DMCC) has established a renowned Crypto Centre, a comprehensive ecosystem hosting over 650 blockchain and digital asset companies as of mid-2025. Within this hub, crypto startups find co-working spaces, incubators and a supportive community, alongside access to DMCC's business services. Similarly, the Dubai International Financial Centre (DIFC), while traditionally focused on finance, now accommodates a thriving fintech and crypto scene through its Innovation Hub and the DFSA's regulatory sandbox for digital tokens. Abu Dhabi In Abu Dhabi, the ADGM on Al Maryah Island has become a crypto and blockchain innovation hub in its own right. ADGM operates under English common law and boasts a robust fintech ecosystem (Hub71) that, in 2023, launched a $2-billion+ initiative to fund Web3 and blockchain startups. Over 5,000 Special Purpose Vehicles (SPVs) for wealth and business structuring have been set up in ADGM, a meteoric rise from just 46 SPVs in 2016. This signals how many family offices, investment funds and crypto project founders are choosing Abu Dhabi's infrastructure to park assets and build new ventures. Even Binance's ex-CEO, Changpeng 'CZ' Zhao, and other global billionaires have established holding companies in ADGM, leveraging its robust legal framework and crypto-friendly regulations. Sharjah and beyond Sharjah, known for its academic prowess, is contributing to infrastructure by nurturing human capital and innovation. The emirate hosts the Sharjah Research, Technology and Innovation Park and recently launched a blockchain academy in partnership with layer-1 blockchain Sui at the American University of Sharjah. Through such initiatives, Sharjah is building a pipeline of blockchain talent and startups, complementing the physical infrastructure with intellectual infrastructure. Further east, Fujairah is developing tech-friendly free zones (like Fujairah Creative City) and exploring blockchain use cases in sectors such as supply chain and finance, aiming to diversify its economy with digital ventures. Ajman and Umm Al Quwain, while smaller, also offer cost-effective free zone licenses and supportive business environments for crypto-related startups, ensuring that entrepreneurs have options beyond the big cities. Importantly, the UAE's world-class digital infrastructure, ubiquitous high-speed internet, 5G networks and cloud data centers provides the backbone for any crypto or blockchain operation. Whether in Dubai's bustling crypto co-working spaces or RAK's new digital assets zone, crypto investors find a plug-and-play infrastructure ready to support their endeavors. 4. National blockchain and metaverse ambitions of visionary government The UAE's emergence as a crypto hub is no accident; it's the product of deliberate, forward-looking government vision. The country's leadership has woven blockchain and digital assets into its broader national strategies for innovation. Strategic national goals As early as 2018, the UAE unveiled Blockchain Strategy 2021, aiming to transfer 50% of government transactions onto blockchain platforms by 2021. This push not only streamlined public services but also signaled to the world that the UAE was serious about adopting crypto's underlying technology at scale. Building on that momentum, Dubai launched an ambitious Dubai Metaverse Strategy in 2022, with the goal of making the emirate one of the global top 10 metaverse economies. The strategy targets adding 4 billion UAE dirhams ($1.1 billion) to the economy in five years and creating 40,000 virtual jobs by 2030. Initiatives under this plan include attracting 1,000 blockchain and metaverse companies (Dubai already had 1,000 firms in this space by 2022) and integrating metaverse tech into tourism, education and government services. In practice, this means Dubai's government is actively experimenting with NFTs, virtual real estate and immersive digital services, fostering a climate where crypto-related ideas are welcomed rather than shunned. Federal support At the federal level, the UAE has a National AI Strategy and a Digital Economy Strategy, under which blockchain and crypto are key components for diversifying beyond oil. High-level ministers (such as the minister of state for artificial intelligence, digital economy and remote work) champion crypto and metaverse projects, ensuring policy support at the top. Regional alignment Each emirate is finding its niche under this vision. Abu Dhabi, for instance, through Hub71 and ADGM, focuses on big-ticket Web3 investments and institutional adoption (including a government-backed $2-billion fund for Web3 startups). Dubai focuses on retail crypto adoption, blockchain in everyday services and emerging tech like tokenized assets and AI integration in finance. Ras Al Khaimah's creation of the RAK Digital Assets Oasis aligns with the national vision to become a 'global crypto capital,' enabling RAK to specialize in nurturing early-stage Web3 innovators in a sandbox-like environment. Even Sharjah's emphasis on education (like the American University of Sharjah Blockchain Academy) echoes the strategic goal of building human infrastructure for a blockchain-based economy. The government's pro-crypto vision is also evident in international partnerships; for example, Dubai's leadership has inked agreements with global crypto firms (like a recent deal with to develop blockchain solutions for real estate transactions) to pilot new use cases. All these efforts, including blockchain strategies, metaverse roadmaps and tech parks, create a clear message: The UAE sees crypto and digital assets as integral to its future. This vision and openness reassure crypto entrepreneurs that by relocating to the UAE, they are aligning with a country that wants their industry to thrive. Did you know? The TON Foundation's offer of UAE golden visas to Toncoin stakers was quickly denied by local regulators, exposing a legal misstep . Despite support from influencers, including Telegram's Pavel Durov, the plan clashed with strict UAE crypto marketing laws, highlighting the need for proper legal reviews. 5. Residency opportunities: Golden visas and an elite global lifestyle Beyond the formal policies, the UAE offers an enviable lifestyle and residency benefits that strongly attract wealthy individuals, including crypto millionaires. Key highlights include: The UAE's Golden Visa program, a long-term 10-year residency visa, has been a game-changer for investors, entrepreneurs and talented professionals. Crypto founders who qualify (for example, by investing in UAE businesses or real estate or by attaining success in the tech sector) can obtain a Golden Visa, securing a decade of residency for themselves and their families with no local sponsor required. The Golden Visa's allure is its stability and simplicity: It lets expatriates safely base themselves in the UAE, open bank accounts, buy property and even sponsor family members with ease. In 2024, the government expanded the visa categories dramatically, introducing new sponsor-free residency tracks for everyone from digital content creators to even luxury yacht owners. This inclusive approach signals that innovators of all stripes are welcome. A crypto hedge fund manager or blockchain developer can move to Dubai or Abu Dhabi, knowing they can secure long-term residency as easily as a more traditional investor. The lifestyle advantages of the UAE are equally compelling. Dubai and Abu Dhabi consistently rank among the safest cities globally, with low crime and high political stability, a 'safe haven status' that wealthy families highly value. Modern infrastructural amenities abound: world-class hospitals, international schools and universities, luxury malls and restaurants, and vibrant arts and culture scenes. For crypto millionaires used to international travel, the UAE's strategic location is a boon: Dubai and Abu Dhabi are major aviation hubs with direct flights connecting Europe, Asia and Africa within eight hours. This global connectivity allows investors to manage businesses across continents while enjoying a home base in the emirates. Moreover, the quality of life is bolstered by cutting-edge smart city initiatives. For instance, UAE cities are investing in smart governance (you can pay government fees in crypto for select services and digital amenities, such as high-speed 5G, widespread crypto ATMs and even real estate deals via blockchain). The day-to-day lifestyle, from sunny weather and luxury real estate to five-star entertainment and outdoor recreation, is often compared to a perpetual vacation. Such perks have not gone unnoticed by the crypto elite: Numerous crypto conferences (like Token 2049), blockchain summits and networking events now take place in Dubai annually, reinforcing the sense of a thriving community. Crucially, the UAE also offers comfort on the legal and financial front: strong banking infrastructure with private banking services tailored to high-net-worth individuals and new family-friendly legal reforms (like secular options for marriage/inheritance) that provide expatriate families more certainty. The crypto future is being built in the emirates The UAE presents crypto millionaires not just a place to do business, but an upscale, convenient lifestyle and a secure home. It's a combination of tax-free crypto profits by day and luxury living by night that is hard to match elsewhere. From Dubai's bold metaverse ambitions to Abu Dhabi's institutional-grade infrastructure and Ras Al Khaimah's Web3-first regulatory sandbox, each emirate plays a unique role in shaping the UAE as a comprehensive crypto haven. With visionary governance, cutting-edge infrastructure and a welcoming environment for innovators, the UAE isn't just accommodating crypto — it's actively shaping its global future. In 2025 and beyond, the UAE's message to crypto entrepreneurs is clear: Bring your ideas, bring your capital and build your future here. It's a call that's resonating around the world and one that continues to draw the blockchain elite to this crypto-friendly oasis in the desert. Source: