ARP Digital Lands Dubai VARA Broker-Dealer License for Stablecoin Conversions

ARP Digital has secured a broker-dealer license from Dubai's Virtual Assets Regulatory Authority (VARA), allowing it to offer regulated conversions between digital assets and the UAE dirham. The Bahrain-based firm will now be able to provide United Arab Emirates-based corporates, capital markets participants, and qualified investors with a secure route for converting stablecoins into local currency.

The license marks ARP Digital's second regulated Gulf market presence, following its Central Bank of Bahrain license. Under this new approval, the company can facilitate conversions between digital assets and UAE dirhams for institutions, including stablecoin-dinar swaps. This development comes as Dubai continues to expand its regulated digital asset sector.

The VARA has issued 50 virtual asset service provider licenses so far, with ARP Digital being one of the latest additions. Flowdesk, a crypto market maker backed by Coinbase Ventures and BlackRock, also received a full VARA broker-dealer license on Tuesday.