Exclusive: Flipster GM Benjamin Grolimund Discusses Full VARA License and UAE Growth

Global cryptocurrency exchange Flipster has recently secured a full operational Virtual Asset Service Provider (VASP) license from Dubai's Virtual Assets Regulatory Authority (VARA), enabling the company to officially offer regulated exchange services in the UAE.

Issued under Flipster FZE, the license authorizes the company to operate as a regulated virtual asset exchange, allowing it to onboard customers in the UAE while laying the foundation for broader international expansion.

The approval represents Flipster's progression from receiving an In-Principle Approval (IPA) to obtaining full operational authorization under VARA's regulatory framework, one of the world's most established regimes for digital assets.

A New Chapter for Flipster in the UAE

In an exclusive interview with UNLOCK Blockchain, Benjamin Grolimund, General Manager of Flipster FZE, explained that the license represents more than a regulatory achievement, serving as a cornerstone of the company's long-term strategy in the region.

"Securing a full operational VARA Exchange license is an important milestone for Flipster and reflects our long-term commitment to building in regulated markets.”

Grolimund added that the UAE has established itself as one of the world's leading digital asset hubs, with Dubai's forward-looking regulatory framework providing a strong foundation for sustainable growth.

"This license allows us to bring our products and services to users under a trusted regulatory framework while strengthening our presence across the Middle East."

Launching Regulated Trading Services

Flipster said its regulated offering will initially focus on spot trading, with plans to gradually expand its product suite in line with regulatory requirements.

The exchange also offers real-world asset (RWA) perpetuals in jurisdictions where such products are permitted, providing traders with exposure to both digital assets and traditional asset classes.

"The full operational license from VARA enables us to officially offer regulated virtual asset services, beginning with spot trading."

Grolimund added, "Spot trading represents the starting point of our regulated offering in the UAE, and we will continue exploring opportunities to expand our product suite, asset coverage, and services over time in alignment with regulatory requirements."

Discussing the company's broader vision, Grolimund said Flipster aims to provide users with a secure and transparent trading experience backed by strong governance standards.

"Our goal is to provide users with a secure, transparent, and reliable trading experience backed by robust governance and compliance standards."

He added, "As we continue to grow, we also see opportunities to connect users with broader global market access through innovative products, including exposure to both digital and traditional asset classes where supported."

Flipster on Dubai's Regulatory Advantage

The company views Dubai's evolving regulatory environment as a key factor supporting the long-term development of the digital asset industry.

According to Grolimund, VARA has established a framework that balances innovation with investor protection while providing companies with the regulatory certainty needed to build sustainable businesses.

"VARA has played a significant role in setting a high standard for the industry by creating a clear, transparent, and innovation-friendly regulatory environment."

He believes regulatory certainty will continue to strengthen Dubai's position as a global virtual asset hub.

"Regulatory clarity gives companies greater confidence to build for the long term, while providing users with stronger protections. We believe this approach will continue to attract high-quality participants to Dubai and support the broader maturation of the virtual asset ecosystem."

Next Phase of Growth

Flipster first announced its expansion into the Middle East in May 2025 with the appointment of Grolimund as General Manager.

Securing a full operational license marks the next stage of that strategy, enabling the company to transition from establishing a regional presence to delivering regulated services.

Looking ahead, Grolimund said the company's immediate priority is to boost its regulated offering in the UAE while continuing its global expansion.

"This marks the beginning of our next phase of growth in the region. Our immediate focus is on delivering a best-in-class regulated trading experience for users in the UAE while continuing to invest in product innovation, operational excellence, and global expansion."

He added, "Building on the trust of more than 1.5 million users, we will continue pursuing opportunities to expand our platform and services globally while maintaining the highest standards of compliance, security, and user protection."

He concluded by reaffirming the company's commitment to working closely with regulators as it scales its operations.

"We remain committed to working closely with regulators and partners as we continue building a trusted platform for traders worldwide."

With the full operational license now in place, Flipster joins the growing list of global virtual asset companies establishing regulated operations in Dubai, further highlighting the UAE as one of the world's leading jurisdictions for digital asset innovation and regulatory clarity.