B2Prime Group, a liquidity provider, has announced that its subsidiaryB2B Prime Digital MENA granted an Initial Approval for licensing from the Dubai Virtual Assets Regulatory Authority (VARA).
This milestone signifies the granting of Initial approvals from VARA for licenses covering activities of “Virtual Asset Exchange Services,” “Virtual Asset Broker Dealer Services,” and “Virtual Asset Transfer and Settlement Services”.
The VARA’s Initial Approval is an essential milestone in B2B Primes’s pursuit of a complete Virtual Asset Service Provider (VASP) License and will allow it to move forward in the licensing process and ultimately offer comprehensive Exchange, Broker Dealer and Transfer and Settlement virtual asset services and related activities in the region in the future.
Ms. Eugenia Mykuliak, Founder of B2Prime, expressed her gratitude for this achievement, stating that, “We are excited to contribute to the growth of Dubai’s ever-growing Virtual assets ecosystem.”
Arthur Azizov Co-Founder B2B Prime Digital MENA
“We are extremely proud and grateful to have received initial approval from VARA, which is a testament to our determination to maintain the highest standards in regulatory compliance. We’ve built a powerful ecosystem that not only meets but exceeds the industry’s standards, guaranteeing a safe and efficient gateway to virtual assets for users. We are ready to move forward in the licensing process in our bid to offer secure and streamlined access to virtual assets, strictly adhering to VARA’s guidelines.”
While this initial approval is a milestone achievement, B2B Prime Digital MENA continues to work towards obtaining VARA’s highly acclaimed Virtual Asset Service Provider license.
“The receipt of the Initial Approval for all three licenses, particularly the Transfer and Settlement License, was eagerly awaited and has brought immense joy to our entire team. This achievement has undoubtedly inspired us to pour our absolute best towards securing the Virtual Asset Service Provider license,” stated Ms. Adriana Paredes Herrera, CEO of B2B Prime Digital MENA.
This progress is essential for the company to fully operate within the Emirate of Dubai and introduce its innovative products and solutions to the market.
Presently, there’s a growing demand in the market for a reliable provider of crypto Prime Prime brokerage services, with a special focus on the spot digital assets sector.
B2B Prime’s initial strategic goal is to provide access to the widest selection of assets in the industry and deliver trading conditions that meet the needs of both retail and institutional clients, all through its own advanced platform.
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