Dubai-headquarted broker, MultiBank Group, has secured a Virtual Assets Regulatory Authority (VARA) license for its subsidiary, MEX Digital FZE, operating under the MultiBank.io brand.
This license authorizes MultiBank.io to offer virtual asset (VA) exchange and broker-dealer services, excluding VA derivatives, further expanding its presence in Dubai’s growing blockchain ecosystem.
The VARA license classifies MultiBank.io as a Virtual Asset Service Provider (VASP), allowing the company to facilitate virtual asset transactions and broker-dealer activities within the UAE. This move aligns with MultiBank’s broader strategy of expanding into the digital asset space.
Commenting on the achievement, Naser Taher, Chairman of MultiBank Group, said,
“Our vision at MultiBank Group is to create an ecosystem to facilitate integration between the financial derivatives markets and the crypto markets. We are happy to have been awarded dual licenses, affirming our steadfast commitment to regulatory compliance and excellence worldwide. This milestone strengthens our dedication to creating a secure and transparent environment for the global cryptocurrency community.”
MultiBank Group has stated that its expansion strategy will focus on growing its team, enhancing service offerings, and developing strategic partnerships to advance the cryptocurrency industry in the region.
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