DKK Partners FZE, a subsidiary of DKK Partners based in the Dubai World Trade Centre (DWTC), has secured initial approval from the Dubai Virtual Assets Regulatory Authority (VARA) to offer virtual asset broker dealer services.
Initial approval from VARA enables DKK Partners FZE, which specialises in emerging markets (EM) and foreign exchange (FX) liquidity, to move forward in the licensing process as they look to offer corporate and institutional customers in Dubai and the UAE access to stablecoin blockchain technology, utilising USDT and USDC.
Victoria Albergini, head of partnerships for DKK Partners FZE in Dubai, also said: “Since our launch last year, DKK Dubai has gone from strength to strength and is now in a prime position in the rapidly evolving digital asset landscape. The VARA initial approval enhances our ability to serve the unique needs of corporate and institutional customers.”
The VARA Initial Approval furthers DKK Partners’ overarching digital asset strategy, establishing Dubai as a pivotal hub for their operations in the Middle East.
DKK Partners FZE will now continue to work towards acquiring a full Virtual Asset Service Provider Licence from VARA.
Khalid Talukder, co-founder and CEO of DKK Partners, gave his view on the news: “It is an incredibly exciting time for DKK in the Middle East and securing the VARA Initial approval will enable us to continue making a splash in the region.
“Our expansion to Dubai last year was a huge success and we’re looking to extend our influence in the market by strengthening our compliance and innovation in the virtual asset space.
“This license is a game-changer for DKK and the digital asset landscape in Dubai empowering businesses to confidently engage in blockchain technology, benefiting from the stability of stablecoins and the regulatory framework.”
DKK Partners empowers corporates & institutions in emerging markets with expert FX solutions. They manage currency risk, secure optimal liquidity, & streamline local collections, driving business growth.
