MultiBank Group Secures VASP License to Expand Crypto Services in Dubai

MultiBank Group, a prominent name in financial services globally, is achieving notable progress in the UAE with its recent milestone: obtaining a Virtual Asset Service Provider (VASP) license via its subsidiary, MEX Digital FZE. This license, issued by Dubai’s Virtual Assets Regulatory Authority (VARA), permits the firm to offer broker-dealer services and manage virtual asset exchanges under the MultiBank.io brand.

The Edge of UAE’s Blockchain

This strategic action enhances MultiBank Group’s footprint in Dubai’s expanding digital asset market, placing the company at the leading edge of the UAE’s blockchain and cryptocurrency sector. The VASP license allows MultiBank.io to perform regulated and secure transactions, excluding derivatives, while it continues to expand its digital presence.

MultiBank Group, recognized for its robust regulatory adherence and impressive international footprint, serves more than one million traders across 90 nations. With daily trading volumes surpassing $15.6 billion, the company is celebrated for its dedication to fostering a secure and transparent trading environment. Chairman Naser Taher underscored this in a statement, emphasizing the company’s goal to connect traditional financial markets with the burgeoning realm of crypto assets.

By securing the VASP license, MultiBank.io is poised to take advantage of Dubai’s status as a fintech hub. This growth aligns with the city’s increasing focus on blockchain technology and crypto innovation, further solidifying MultiBank Group’s position as a vital player in the regional and global digital asset landscape.

As the UAE fortifies its blockchain regulations, MultiBank Group’s entry enables it to make a significant impact on the virtual asset economy, providing improved services to traders and crypto enthusiasts around the world.

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