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Bitpanda has received in-principle approval from the UAE's Virtual Assets Regulatory Authority (VARA) to operate as Bitpanda Broker MENA DMCC, marking its first expansion outside Europe. The company has established an office in Dubai and aims to leverage the region's growing demand for digital assets, launching products like Bitpanda Fusion for active traders. This move aligns with Bitpanda's strategy to enhance its global presence while adhering to local regulatory requirements.
Bitpanda has secured in-principle approval from the Virtual Asset Regulatory Authority (VARA) to expand into the UAE, positioning Dubai as a strategic hub for its international growth. The approval indicates compliance with regulatory standards, although further conditions must be met for full operational licensing. Additionally, Bitpanda has partnered with Societe Generale to promote the adoption of its euro-denominated stablecoin, EUR CoinVertible, as a key element of global finance.
Zug's crypto scene faces challenges with the bankruptcy of the Lykke exchange, raising concerns among customers. Despite this, the region remains a hub for blockchain innovation, allowing tax payments in cryptocurrencies and expanding crypto services through Zuger Kantonalbank. The local infrastructure supports over 1,000 crypto companies, while luxury real estate reflects the wealth of successful entrepreneurs.
Eric Demuth
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
bitpanda gains approval to expand operations in the united arab emirates
15:47 16.12.2024
Bitpanda gains approval to expand operations into the UAE market
15:05 16.12.2024
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