Dubai's VARA issues Broker-Dealer licences to ARP Digital and Deribit

Several firms have secured new regulatory permissions from Dubai’s Virtual Assets Regulatory Authority (VARA) to expand digital asset services in the UAE.

ARP Digital has obtained a Broker-Dealer licence, allowing the platform to provide regulated digital asset and stablecoin conversion to local fiat currency. This enables UAE-domiciled corporates and qualified investors to convert digital assets into dirhams, facilitating the deployment of digital wealth into local assets.

Deribit has also received a Broker-Dealer licence from VARA. This new permission allows the platform to route most of its spot orders to Coinbase Exchange for execution. While Deribit will remain the client-facing venue and maintain its derivatives ecosystem, the arrangement provides clients with access to deeper liquidity and a wider range of assets available on Coinbase.