BitGo, a digital asset infrastructure company, has secured a Broker-Dealer license from Dubai's Virtual Assets Regulatory Authority (VARA). This regulatory approval will allow BitGo MENA FZE to offer regulated digital asset trading and intermediation services to institutional clients within the region, furthering the company's global expansion.

The VARA license enables BitGo MENA to operate an over-the-counter (OTC) and electronic trading platform for spot trading in digital assets and stablecoins. Clients will gain access to aggregated liquidity from numerous market makers and exchanges, which will promote competitive pricing, reliable execution, and institutional-grade security. Additionally, the company can provide virtual asset custody and staking services to institutional and qualified investors in the UAE. Nick Coombs, Managing Director of MENA Sales, stated that clients would benefit from competitive pricing and execution, access to deep liquidity, and trading support for both AED and USD. The company is also equipped with local banking facilities, positioning it to deliver a tailored trading experience for the MENA region.

Ben Choy, General Manager of BitGo MENA, stated that receiving the broker-dealer license from VARA is a milestone and demonstrates their commitment to compliance and Dubai's regulatory environment. He added that this approval allows them to serve institutional clients with greater scale, confidence, and integrity, highlighting the accelerating momentum within Dubai's digital asset ecosystem.

This announcement comes shortly after VARA imposed financial penalties on 19 companies for unlicensed virtual asset activities and non-compliance with marketing regulations. VARA's enforcements in 2025 have included actions against the TON DLT Foundation and Hokk Finance. Created in 2022 by Sheikh Mohammed bin Rashid Al Maktoum, VARA is responsible for overseeing the regulation of digital assets within Dubai's special development and free zones.

BitGo's commitment to security and compliance is in line with VARA's regulatory framework, which aims to protect investors, ensure market integrity, and promote the sustainable growth of the digital asset economy. In addition to the VARA license, BitGo recently secured approval under the European Union’s Markets in Crypto-Assets Regulation (MiCA) through Germany’s BaFin, enabling them to offer digital asset services across the EU.

BitGo has been focused on accelerating the transition of the financial system to a digital asset economy since its founding in 2013. The company delivers custody, wallets, staking, trading, financing, and settlement services from regulated cold storage.