Dubai crypto market reaches 50 licensed firms after VARA approval

Dubai’s Virtual Assets Regulatory Authority has approved its 50th licensed crypto firm, marking another step in the expansion of the emirate’s regulated digital asset market.

The milestone matters because it shows continued growth in the number of companies entering Dubai’s regulatory framework. It also provides a clearer view of the market’s development under VARA’s oversight.

The headline licensing figure does not mean all 50 firms were actively operating. At the end of 2025, 39 virtual asset service providers, or VASPs, were fully operational.

That distinction highlights the gap between receiving regulatory approval and reaching operational status. As more licensed firms complete that process, Dubai’s regulated crypto sector could continue to broaden.