Latest news with #virtualassets
Zawya
6 days ago
- Business
- Zawya
Ctrl Alt secures VARA license, becomes first VASP authorized to conduct issuer services in Dubai
Dubai, UAE - Ctrl Alt, a leading tokenization infrastructure platform, has officially secured its license from Dubai's Virtual Assets Regulatory Authority (VARA) to operate as a Virtual Assets Service Provider (VASP). Notably, Ctrl Alt is the first VASP authorized to conduct issuer-related services. This milestone marks a significant step in Ctrl Alt's global expansion and highlights its commitment to operating within robust regulatory frameworks. Ctrl Alt has been granted a VARA license that allows the company to conduct licensed activities that include Broker-Dealer services and Issuer services. This is the first time VARA has granted a license that permits Issuer services, a monumental achievement for Ctrl Alt. This license allows Ctrl Alt to operate a full-stack, regulatory-compliant platform for the creation, management and distribution of tokenized real-world assets and ARVA tokens. This was most recently demonstrated through Ctrl Alt's partnership with the Dubai Land Department on their Real Estate Tokenization Project, where Ctrl Alt created the framework to mint and place real estate tokens on-chain. Dubai has rapidly emerged as a global hub for innovation and digital assets and is often seen as a global leader in tokenization. Driven by a progressive approach to regulation and a forward-looking strategic vision, the Emirate has cemented its position as a global hub for digital and financial innovation. Since its inception in 2022, VARA has played a pivotal role in contributing to the growth of Dubai's digital economy and was a key factor in Ctrl Alt's decision to establish itself in the region back in 2024. 'We are proud to receive our VARA license and establish fully regulated operations in the UAE,' said Matt Ong, Founder and CEO at Ctrl Alt. 'This achievement reflects our commitment to long-term regulatory alignment as we power the infrastructure for the next generation of financial products.' 'Securing our VARA license marks a pivotal moment not just for Ctrl Alt, but for the broader digital asset ecosystem in the region,' said Robert Farquhar, Head of MENA at Ctrl Alt. 'Dubai's progressive regulatory environment provides a strong foundation for innovation in tokenization and we're proud to contribute to that vision by delivering secure, compliant tokenization infrastructure for real-world asset issuance.' With this approval, Ctrl Alt becomes part of a growing ecosystem of licensed VASPs in one of the world's most forward-thinking regulatory environments for Web3 and digital asset innovation. About Ctrl Alt Ctrl Alt is a leading tokenization infrastructure platform, combining blockchain technology with expert financial engineering to deliver tailored, compliant solutions in the alternative assets space. As of May 1, 2025, Ctrl Alt has tokenized over $295 million in assets, spanning real estate, private credit, funds, litigation finance and more. With offices in the UAE, the UK and Ireland, the Ctrl Alt team is composed of top-tier financial and technology experts including alumni from Morgan Stanley, Credit Suisse, UBS and Revolut. For further information, visit or contact info@ Ctrl Alt Solutions DMCC is licensed by the Dubai Virtual Assets Regulatory Authority (reference: VL/25/05/002) as a Broker-Dealer and as an Issuer. Our principal office is located at Level No 12, Uptown Tower, Dubai. Virtual Assets may lose their value in full or in part, and are subject to extreme volatility. Investors in Virtual Assets can lose all their money and do not benefit from any form of financial protection.
Khaleej Times
21-05-2025
- Business
- Khaleej Times
BitOasis expands in Bahrain, aims to empower 1m traders by 2026
BitOasis, a leading Dubai-based virtual assets trading platform, has launched operations in Bahrain, reinforcing its position as a compliant broker-dealer in the Middle East and North Africa (Mena) region. Operating under a Crypto-Asset Services License from the Central Bank of Bahrain, BitOasis Bahrain will offer trading services to retail, corporate, and institutional clients, marking a significant step in the platform's regional expansion. The launch, attended by CEO and co-founder Ola Doudin, general manager Ali Dashti, and CoinDCX co-founder Sumit Gupta, highlights BitOasis's ambition to reach one million users across the Middle East and North Africa (Mena) by 2026. 'This is a milestone in our mission to provide a secure, innovative, and user-focused platform,' Doudin said. Backed by CoinDCX's 200+ technology team since its acquisition in July 2024, BitOasis has enhanced its platform with faster performance, deeper liquidity, and stronger security. The company also introduced premium services for high-net-worth individuals and institutions, including VIP offerings and dedicated support, alongside seamless local bank transfers across the GCC. The Mena region is emerging as a global hub for virtual assets, driven by a young, tech-savvy population and proactive regulatory frameworks. With internet penetration exceeding 99 per cent in the UAE and nearly 60 per cent of the GCC's population under 30, the region is primed for crypto adoption. The GCC's supportive regulatory environment and investments in blockchain infrastructure signal robust growth for the sector. 'As BitOasis strengthens its regional footprint, it is poised to lead the charge in transforming the Mena crypto market, delivering unparalleled opportunities for traders and investors,' a crypto market consultant said. According to IMARC Consulting, the GCC cryptocurrency market, valued at $744.3 million in 2024, is projected to reach $3.5 billion by 2033, growing at a 16.75 per cent CAGR. Notably, 38 per cent of regional crypto users earn over $15,000 annually, reflecting a financially empowered user expansion follows its securing of a full Virtual Asset Service Provider (VASP) License from Dubai's Virtual Assets Regulatory Authority in December 2024. 'MENA is a region we're co-building,' said Gupta. 'With BitOasis, we're creating a secure, compliant, and future-ready platform that's local at heart but global in strength.' Since its founding in 2016, BitOasis has processed over $7.4 billion in trading volume and raised more than $40 million in funding, serving investors across 13 countries with access to over 80 virtual assets.
Zawya
19-05-2025
- Business
- Zawya
VARA issues updated activity rulebooks to strengthen market integrity and risk oversight
Dubai, UAE – The Virtual Assets Regulatory Authority [VARA] today announced the publication of Version 2.0 of its activity-based Rulebooks, marking the latest milestone in Dubai's ongoing commitment to delivering a future-proof regulatory framework that balances innovation with robust market safeguards. The updated Rulebooks include enhanced supervisory mechanisms across the following regulated virtual asset [VA] activities: Advisory services Broker-dealer services Custody services Exchange services Lending and borrowing services VA management and investment services VA transfer and settlement services Key refinements in Version 2 include strengthened controls around margin trading and token distribution services, clearer definitions for collateral wallet arrangements, and harmonised compliance requirements across all licensed activities. The updates are designed to promote greater market discipline, risk transparency, and operational resilience across Dubai's VA ecosystem. In line with global regulatory best practices, a 30-day transition period has been granted to all impacted virtual asset service providers [VASPs], with full compliance required by 19 June 2025. VARA's Supervision Teams will engage directly with each licensed entity to provide activity-specific guidance as needed. 'Our commitment remains to ensuring that innovation and compliance go hand in hand. These rulebook updates reinforce the foundations of a responsible, scalable ecosystem,' said Ruben Bombardi, General Counsel and Head of Regulatory Enablement at VARA. The revised Rulebooks are available for public access via VARA's official website: About VARA Established in March 2022, following the effect of Law No. 4 of 2022, VARA is the competent entity in charge of regulating, supervising, and overseeing VAs and VA Activities in all commercial zones across the Emirate of Dubai, including Special Development Zones and Free Zones but excluding the Dubai International Financial Centre. VARA plays a central role in creating Dubai's advanced legal framework to protect investors and establish international standards for Virtual Asset industry governance, while supporting the vision for a borderless economy. For further information or media enquiries, please contact: media@
