Digital asset custodian BitGo has received a broker-dealer license from Dubai's Virtual Asset Regulatory Authority (VARA), marking its second major regulatory approval in a matter of weeks and cementing its global compliance strategy.
The license allows BitGo MENA to offer institutional clients regulated trading and brokerage services in the region.
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This comes shortly after BitGo obtained authorization from Germany's Federal Financial Supervisory Authority (BaFin) for its operations in Europe.
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Ben Choy, managing director of BitGo MENA, said the approval allows the company to serve institutions with "greater scale, confidence, and integrity," while highlighting the growth of Dubai's digital asset market.