Stake RWA Secures Full VARA License for Broker-Dealer Services in Dubai

Dubai's Virtual Asset Regulatory Authority (VARA) has granted Stake RWA FZE a full Virtual Asset Service Provider (VASP) license for Broker-Dealer Services, marking the company's transition from in-principle regulatory approval to full authorization in the emirate.

According to VARA's public register, the license was issued on November 9, 2026, under reference number VL/26/11/001. The authorization permits Stake RWA to serve institutional investors, qualified investors and retail investors, subject to specific geographical and funding restrictions.

The development follows the company's January 2026 In-Principle Approval from VARA, which allowed it to proceed with the remaining requirements for a full VASP license.

From In-Principle Approval to Full Licensing

Stake RWA FZE received its initial regulatory approval in January 2026, allowing it to proceed with the remaining requirements for a full VASP license.

At the time, the company said it was working toward offering regulated virtual asset broker-dealer services, with a focus on tokenized real estate investment opportunities.

The approval process was supported by Rasma Legal, which advised Stake on the regulatory framework, application preparation and engagement with VARA.

The full license marks the completion of that regulatory process for the authorized activity.

Scope of VARA's Authorization

VARA's public register lists Broker-Dealer Services as Stake RWA's licensed activity under its new VASP authorization.

The license includes several conditions governing the company's operations:

• Eligible investors: Institutional investors, qualified investors and retail investors.

Geographical scope: Services are restricted to UAE-based customers.

Funding and withdrawals: Client accounts may be funded and withdrawn in fiat currencies only.

The register identifies the license as active, with November 9, 2026, recorded as its issuance date.

The authorization specifically covers Broker-Dealer Services. It should not be interpreted as a separate license for virtual asset issuance, exchange services or custody.

Stake's Broader Real Estate Investment Strategy

The regulatory development comes as Stake continues to expand its presence in the UAE's fractional real estate investment market.

In February 2026, the company attracted a $31 million Series B investment led by Emirates NBD, supporting its expansion plans and development of its real estate investment platform.

Stake has also been exploring ways to address liquidity constraints in fractional property investments.

In April 2026, the company announced a partnership with Swiss-headquartered ACE & Company to develop a secondary transfer framework for investors in its UAE real estate offerings. The initiative aims to improve transferability and price visibility while providing investors with more structured exit options. Unlock Blockchain previously covered the initiative in Stake and ACE's partnership targeting the liquidity gap in UAE fractional real estate.

The partnership operates within Stake's existing DFSA-approved regulatory permissions and is distinct from its separate tokenization plans under VARA.

With its full VARA license now in place, Stake has secured regulatory authorization for its planned virtual asset broker-dealer activity in Dubai, adding another development to the emirate's expanding regulated digital asset and real-world asset ecosystem.