Bitpanda, a European digital asset trading company, has received approval to operate in the UAE after signing an agreement with the Virtual Assets Regulatory Authority (VARA). This achievement will help the company expand all its services in the UAE, becoming a nexus for digital assets and blockchain inventions.
Bitpanda Goes Global!
We’re proud to announce that we’ve secured In-Principle-Approval from the Virtual Assets Regulatory Authority in the UAE. This achievement takes us one step closer to offering our full range of services in this fast-growing global hub for digital assets.… pic.twitter.com/09bBm2oJpG
— Bitpanda (@Bitpanda_global) December 16, 2024
This approval is part of Bitpanda’s internationalization process, enabling the company to bring its secure investing platform to users in the Middle East and North Africa (MENA). Bitpanda managed to secure this approval, indicating high regulatory requirements as it expands internationally.
Bitpanda Strategic Expansion into the UAE
The UAE has become strategically significant for blockchain companies. The UAE innovation protects investors and supports financial freedom. Bitpanda has chosen the UAE to expand its sphere of influence.
This comes after Bitpanda opened its Dubai office in the DMCC Crypto Centre earlier this year. Bitpanda has also partnered with financial institutions, such as The National Bank of Ras Al Khaimah(RAKBANK) and CoinMENA, to improve its presence in the MENA market. Bitpanda is prepared to expand its regulated and safe cryptocurrency services to the UAE and other nations.
CEO Highlights UAE’s Role in Bitpanda’s Global Vision
Speaking to Forbes, Eric Demuth, Co-Founder and CEO of Bitpanda, made a special focus on the importance of the UAE within the context of the company’s international development. Demuth focused on Dubai as the basis for the globalization of Bitpanda, which perfectly fits the company’s image of the most compliant in Europe by many indicators.
The expansion of Bitpanda to the UAE is about making financially secure digital services available worldwide. With its operation in the MENA market, the company intends to help both retail and institutional investors attain financial freedom while following proper compliance.
