Triple-A, a Singapore-based payments company, has achieved a significant milestone by obtaining in-principle approval from Dubai's Virtual Assets Regulatory Authority (VARA) to offer broker-dealer services. This development is a critical step in the company's ongoing efforts to establish a foothold in the Middle East's rapidly evolving fintech landscape. While the approval is a promising indication of Triple-A's future in Dubai, the company must now fulfill operational readiness requirements and meet additional regulatory conditions before it can secure a full license. The licensing assessment process is currently underway, with VARA overseeing the provision and exchange of virtual assets in Dubai.
In addition to its burgeoning presence in Dubai, Triple-A is already licensed in Singapore and the European Union, adhering to the Monetary Authority of Singapore (MAS) and Markets in Crypto-Assets (MiCA) regulations. The company also holds money transmitter licenses across more than 20 jurisdictions in the United States and is registered as a money services business in both the U.S. and Canada. This extensive regulatory compliance underscores Triple-A's commitment to operating within established frameworks as it seeks to expand its services internationally.
Eric Barbier, the CEO of Triple-A, commented on the achievement, highlighting the months of rigorous work by the company's compliance, legal, and cross-functional teams. He noted that this milestone reflects their long-term commitment to building a robust payments infrastructure in line with the market's trajectory. As the company prepares to launch its services in Dubai, it aims to capitalize on the growing demand for virtual asset solutions in the region, which has become an increasingly attractive hub for fintech innovation and investment.
In addition to its burgeoning presence in Dubai, Triple-A is already licensed in Singapore and the European Union, adhering to the Monetary Authority of Singapore (MAS) and Markets in Crypto-Assets (MiCA) regulations. The company also holds money transmitter licenses across more than 20 jurisdictions in the United States and is registered as a money services business in both the U.S. and Canada. This extensive regulatory compliance underscores Triple-A's commitment to operating within established frameworks as it seeks to expand its services internationally.
Eric Barbier, the CEO of Triple-A, commented on the achievement, highlighting the months of rigorous work by the company's compliance, legal, and cross-functional teams. He noted that this milestone reflects their long-term commitment to building a robust payments infrastructure in line with the market's trajectory. As the company prepares to launch its services in Dubai, it aims to capitalize on the growing demand for virtual asset solutions in the region, which has become an increasingly attractive hub for fintech innovation and investment.
Source: Fintech News ME
