Triple-A, a global payment institution, has been awarded In-Principle Approval (IPA) from Dubai’s Virtual Assets Regulatory Authority (VARA) for the provision of Broker-Dealer services.
The IPA represents a major step in the regulatory journey, taking the firm into the last phase of VARA’s licensing procedure before a full licence can be issued. With its assessment still underway, Triple-A will now work within a set timeframe to satisfy operational readiness criteria and resolve the outstanding conditions attached to the approval.
VARA holds the distinction of being the first independent watchdog dedicated to virtual assets anywhere in the world, tasked with supervising how such assets are provided, used and traded within and from Dubai. Its regime is considered one of the most selective globally, with only slightly more than 50 firms currently holding full licences.
The approval adds to Triple-A’s established compliance credentials. The firm already operates under MiCA in the EU and under MAS in Singapore, holds Money Transmitter Licenses in more than 20 US jurisdictions, and is registered as a Money Services Business in both the US and Canada.
Triple-A CEO Eric Barbier said, “This milestone builds on the payments infrastructure we have already developed for the market where this is heading. It is an achievement that reflects months of rigorous work by our compliance, legal, and cross-functional teams, and our long-term commitment to operating within regulated frameworks.”
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