Bitpanda Secures In-Principle Approval from VARA to Enter UAE Market

Bitpanda, Europe’s leading regulated cryptocurrency platform, has taken a significant step toward its global expansion strategy by obtaining in-principle approval from the Virtual Assets Regulatory Authority (VARA) in Dubai.

This milestone positions Bitpanda to formally launch its operations in the UAE under the entity Bitpanda Broker MENA DMCC once it receives the full operating license.

The approval comes less than eight months after Bitpanda submitted its application, highlighting the company’s commitment to compliance and innovation in the digital assets space.

This development not only strengthens Bitpanda’s international presence but also marks its first foray outside Europe, cementing its ambition to become a trusted global player in the crypto industry.

Strategic Growth in the Middle East

With its headquarters in the DMCC Crypto Centre, Bitpanda has been actively laying the groundwork for its regional operations.

The company has built a team of local experts and formed partnerships with prominent financial institutions, including RAKBANK and licensed UAE crypto platform CoinMENA.

Eric Demuth, Co-Founder and CEO of Bitpanda, stated,

“In Europe, we have established ourselves as the most trusted and regulated digital asset platform. Expanding to the UAE as our first step beyond Europe showcases our ability to scale this compliance-first model globally. Dubai offers immense opportunities, and we’re ready to seize them as a leading crypto broker and infrastructure provider.”

Dubai: A Global Hub for Digital Finance

Bitpanda’s decision to expand into the UAE is driven by the region’s forward-thinking regulatory environment and its emergence as a global digital finance hub.

VARA’s comprehensive framework ensures innovation thrives while prioritizing investor protection—principles that align closely with Bitpanda’s mission.

Fabian Reinisch, General Counsel at Bitpanda, emphasized,

“Securing VARA’s in-principle approval in under eight months underscores the strength of Dubai’s regulatory ecosystem and our dedication to compliance. A decade of adhering to rigorous standards has prepared us to bring secure and accessible digital asset solutions to new markets.”

Walid Benothman, Managing Partner at Bitpanda MENA, also commented,

"We are super excited to announce a major milestone: Bitpanda is the first European crypto platform to secure (in-principle) approval from the Virtual Assets Regulatory Authority (VARA)!
Earlier this year, BTS paved the way with its entry into the UAE market. But now, this approval marks Bitpanda’s full market entry into the region — an exciting leap that takes us from ‘dipping a toe in the water’ to ‘diving in at the deep end.

With this approval, we’re set to offer a complete suite of digital asset services to B2B customers and UAE investors. Dubai will be our launchpad for regional growth, reflecting our ambition to lead the global adoption of digital assets while continuing to set the standard as the most regulated and trusted platform in the industry.

This is more than just another step forward — it’s a bold move into one of the world’s most dynamic markets. Great work by the whole team and everyone involved!"

Future-Ready Services

Once licensed, Bitpanda aims to provide a full suite of products and services to both institutional and retail investors in the UAE. These offerings will include innovative digital asset trading solutions and infrastructure tailored to the needs of regional customers.

Global Impact

By establishing a presence in Dubai, Bitpanda is not only entering a new market but also signaling its intent to lead the global adoption of regulated virtual assets.

This move reaffirms its mission to set industry benchmarks for compliance and innovation while fostering the mainstream adoption of digital assets.