Key facts
- Dubai's Virtual Assets Regulatory Authority (VARA) has granted its 50th license.
- Tribe Tokenisation FZE received the 50th license.
- The license is for a virtual asset service provider.
- As of the end of 2025, 39 licensed firms were fully operational.
- Dubai aims to be a crypto hub.
Dubai's Virtual Assets Regulatory Authority (VARA) has reached a significant milestone by granting its 50th license to a virtual asset service provider. The recipient of this 50th license is Tribe Tokenisation FZE. This development signifies the ongoing expansion and maturation of Dubai's regulated market for virtual assets. While 50 firms have now secured licenses to operate within the emirate, a closer look at the operational status reveals that 39 of these entities were fully operational by the close of 2025. This figure indicates a steady progression from licensing to active engagement in the market, reinforcing Dubai's strategic ambition to establish itself as a leading global hub for cryptocurrency and virtual asset services. The continuous issuance of licenses and the increasing number of operational firms suggest a robust and growing ecosystem within the emirate.