Triple-A has secured in-principle approval from Dubai’s Virtual Assets Regulatory Authority (VARA) for broker-dealer services.

The Singapore-based payments company must now complete operational readiness requirements and meet the regulator’s remaining conditions as its application moves towards a full licence. Its licensing assessment remains ongoing.

VARA oversees the provision, use and exchange of virtual assets in and from Dubai.

Triple-A is also licensed in Singapore and the European Union under MAS and MiCA requirements.

It has money transmitter licences in more than 20 US jurisdictions and is registered as a money services business in the United States and Canada.

Eric Barbier, Chief Executive Officer of Triple-A, said,

 “This milestone builds on the payments infrastructure we have already developed for the market where this is heading.

It is an achievement that reflects months of rigorous work by our compliance, legal, and cross-functional teams, and our long-term commitment to operating within regulated frameworks.”

This article first appeared on Fintech News Singapore.

Featured image: Edited by Fintech News Middle East, based on image by mkmult via Magnific