The crypto platform Bitpanda has the general approval of the Virtual Assets Regulatory Authority (VARA) in the United Arab Emirates (UAE). This move marks the beginning of their expansion into the MENA (Middle East and North Africa) region. Users in the UAE can look forward to a comprehensive range of products and services, ensured by strict adherence to international regulatory standards.
Strategic steps for entering the MENA region
In one Press release Bitpanda announces its market entry for which it is strategically preparing. Already at the beginning of the year The company opened a location at the DMCC Crypto Center in Dubai, as we reported in the News reported. Key partnerships with local financial institutions such as the National Bank of Ras Al Khaimah (RAKBANK) and CoinMENA, a leading crypto platform in the region, underpin the expansion.
The quick approval by VARA shows that Bitpanda not only focuses on regulatory compliance, but also actively helps shape standards in this area. As one of Europe’s most regulated crypto platforms, the company brings a proven track record and a high level of trust that it now wants to offer investors in the UAE.
Why the UAE?
The United Arab Emirates is considered a leading center for digital innovation and, with its clearly structured regulatory framework, offers the ideal basis for Bitpanda’s international expansion. CEO Eric Demuth emphasizes that the UAE is a perfect fit for Bitpanda’s values through its combination of promoting innovation and protecting investors.
Demuth explained: “Dubai and the UAE offer us a strategic starting point to scale our successful European model globally.”
Future prospects
The approval only marks the beginning of Bitpanda’s ambitions in the region. The aim is to provide leading financial services that are attractive to both private investors and companies. By focusing on strict regulatory standards, Bitpanda aims to create global trust and access to digital assets such as Bitcoin (BTC) simplify.
The expansion into the UAE is a significant milestone on the path to the global presence that Bitpanda is striving for.
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