Triple-A Gets VARA In-Principle Approval for Broker-Dealer

Triple-A has been granted in-principle approval by the Virtual Assets Regulatory Authority to provide broker-dealer services in Dubai, advancing the firm toward a full VARA licence.

The IPA indicates Triple-A passed VARA’s regulatory assessment and gives the company a defined window to complete operational readiness requirements and close outstanding post-approval conditions required for a full licence.

Under VARA rules, firms must satisfy operational and post-IPA conditions within the regulator’s prescribed timeframe before a full broker-dealer licence can be issued.

VARA was established as an independent regulator for virtual assets in Dubai and oversees activity in and from the emirate. The regulator has granted full authorisations to just over 50 entities.

Triple-A holds licences and registrations across multiple jurisdictions, including authorisation in the EU under the Markets in Crypto-Assets (MiCA) framework, licences in Singapore from the Monetary Authority of Singapore, Money Transmitter Licences across more than 20 U.S. states, and registration as a Money Services Business in the United States and Canada.

The company said its compliance team is the second-largest function after engineering and has supported licensing work since the business was founded.

Triple-A said the IPA is part of its plan to provide compliance infrastructure for enterprise clients worldwide and that it must meet VARA’s remaining conditions before a final broker-dealer licence can be issued.

Eric Barbier, Triple-A’s chief executive, commented: “This milestone builds on the payments infrastructure we have already developed for the market where this is heading. It is an achievement that reflects months of rigorous work by our compliance, legal, and cross-functional teams, and our long-term commitment to operating within regulated frameworks.”

Triple-A did not provide a timeline for when it expects a full VARA licence to be granted.