Komainu, a joint venture between Nomura and crypto firms CoinShares and Ledger, has received a full operating license from Dubai’s Virtual Asset Regulatory Authority (VARA).
The United Arab Emirates has opened its door to crypto innovations, supported by federal grants and pro-crypto regulations aiming to nurture entrepreneurs. Attaining a VARA license in Dubai is a three-step process requiring crypto exchanges to qualify for provisional approval, a minimal viable product (MVP) license and a full market product license.