On October 31, the Dubai Virtual Assets Regulatory Authority (VARA) granted “Initial Approval” to WadzPay, marking a significant milestone in expanding cryptocurrency adoption in Dubai. As part of its progress towards obtaining a comprehensive Virtual Asset Service Provider (VASP) license, WadzPay will focus on delivering virtual asset services and activities. VARA’s initial approval allows WadzPay to prepare for offering virtual asset services in two main areas: Transfer and Settlement, and Broker/Dealer operations. While the license grants approval for these services, it prohibits WadzPay from introducing any other virtual asset products or services. WadzPay, a provider known for its wide-ranging offerings, caters to both business entities and individual users.
Dubai Virtual Assets Regulatory Authority Approves WadzPay
