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Crypto Lender Nexo Receives Initial Approval for Dubai License from VARA
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Dubai’s Virtual Assets Regulatory Authority (VARA) has awarded a virtual asset service provider (VASP) license to Bulgarian decentralized lending platform Nexo to operate and offer services in and from the Emirates.
As announced on Tuesday, the approval marks the first step in obtaining a full license, which includes an initial provisional permit, a preparatory license, and an operating license.
Nexo’s Dubai entity, Nexo DWTC, has been awarded an Initial Approval from Dubai’s Virtual Assets Regulatory Authority (VARA) for a vast range of virtual asset service activities.
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