Flipster Secures Full VARA Exchange License to Launch Regulated UAE Crypto Services

Dubai-based virtual assets regulator VARA has granted Flipster FZE a full operational Exchange license, marking the company’s transition from regulatory approval to offering licensed cryptocurrency exchange services in the United Arab Emirates. The license, numbered VL/26/07/002, appears on the regulator’s public register and authorizes Flipster to operate under Dubai’s virtual asset regulatory framework.

The approval represents the latest milestone in Flipster’s Middle East expansion as Dubai continues to attract global cryptocurrency firms seeking regulatory certainty through the Virtual Assets Regulatory Authority (VARA).

VARA Confirms Flipster’s Operational Exchange License

According to the Dubai Virtual Assets Regulatory Authority (VARA) public register, Flipster FZE holds an active Virtual Asset Service Provider (VASP) Exchange license, issued under license number VL/26/07/002. The register lists the company as authorized to conduct Exchange Services within VARA’s regulatory framework.

Unlike an in-principle approval, a full operational license enables a company to begin providing regulated services after satisfying VARA’s licensing, governance, compliance, custody and operational requirements.

The regulator introduced its licensing framework to establish oversight of digital asset businesses operating in or from Dubai, with firms required to meet ongoing compliance obligations to maintain authorization.

Flipster Plans UAE Spot Trading Launch

In its announcement, Flipster said the newly granted license allows the company to onboard customers in the UAE and begin offering regulated virtual asset services through Flipster FZE. The company stated that its regulated offering will initially focus on spot cryptocurrency trading, with additional regulated products expected to be introduced over time, subject to applicable approvals.

Flipster also noted that it provides real-world asset perpetual products in jurisdictions where such offerings are permitted, although those products are separate from its initial regulated UAE rollout.

The company first announced its expansion into the Middle East in May 2025, appointing Benjamin Grolimund as General Manager of Flipster FZE. The operational license marks the next phase of that regional strategy.

Dubai Continues Building a Regulated Crypto Hub

Flipster joins a growing list of cryptocurrency businesses that have secured licenses from VARA as Dubai strengthens its position as one of the world’s most active regulated digital asset jurisdictions.

Since its establishment, VARA has implemented licensing requirements covering exchanges, broker-dealers, custody providers and other virtual asset activities. The regulator has also demonstrated its enforcement powers by taking action against firms operating without authorization and maintaining a public register of licensed entities.

The framework has attracted several international crypto exchanges seeking a regulated presence in the Middle East while providing clearer operational standards around governance, risk management and customer protection.

Why the License Matters

Obtaining a full operational VARA license represents more than a regulatory milestone. It signals that a virtual asset service provider has progressed beyond preliminary approval and satisfied operational requirements necessary to offer regulated services in Dubai.

For Flipster, the approval provides a pathway to expand its presence in one of the fastest-growing digital asset markets while operating under an established regulatory regime.

For the wider industry, the approval reflects Dubai’s continued effort to balance innovation with regulatory oversight, an approach that has positioned the emirate as a preferred destination for digital asset companies seeking legal clarity.

Risks and Outstanding Questions

While the license authorizes Flipster to operate regulated exchange services, the company has not yet disclosed a detailed timeline for expanding beyond its planned spot trading offering in the UAE. Future products will remain subject to applicable regulatory approvals and market conditions.

Competition within Dubai’s regulated crypto market is also intensifying as additional global exchanges continue pursuing VARA authorization, increasing pressure on firms to differentiate through product offerings, liquidity and compliance standards.

What Comes Next

Flipster is expected to begin onboarding eligible UAE customers through its regulated entity while expanding its licensed product suite over time.

Market participants will also monitor whether the company seeks additional regulatory approvals in other jurisdictions as it continues its international expansion strategy.