VARA Reaches 50 Licences as Dubai Tokenisation Boom Grows

In This Article

1. VARA Issues Its 50th VASP Licence

2. Why Tokenisation Is Now Driving Dubai's Blockchain Sector

3. What AED 2.5 Trillion in Volumes Tells Institutional Investors

4. What Dubai's Regulatory Momentum Means for MENA

5. Frequently Asked Questions

Dubai's Virtual Assets Regulatory Authority has issued its 50th Virtual Asset Service Provider licence, marking a decisive milestone in the emirate's ambition to become the world's leading regulated digital assets hub. The 50th licence was awarded to Tribe Tokenisation FZE, a platform enabling fractional, blockchain-based investment in UAE real estate. VARA expects a further 20 firms to become fully operational in the coming months.

Why Tokenisation Is Now Driving Dubai's Blockchain Sector

The composition of Dubai's digital asset pipeline has changed materially. Applications linked to stablecoins and the tokenisation of real-world assets are now generating the strongest interest among firms seeking VARA authorisation. This represents a structural shift beyond crypto exchanges toward blockchain-based financial infrastructure.

"Tokenisation is really where we see at the moment the most activity from the applications that we are receiving as a regulator," said Paul Boots, Senior Director and Head of Sector Development at VARA. "How do you create efficiencies? How do you make trade more cost effective?" The regulator characterised Dubai as "a significant, if not the largest player under one roof" in the global virtual assets industry.

What AED 2.5 Trillion in Volumes Tells Institutional Investors

Virtual asset transaction volumes across VARA-regulated entities reached almost AED 2.5 trillion ($680 billion) in 2025, according to the Dubai Government Media Office. That figure reflects the scale at which regulated blockchain infrastructure is now operating — not as a niche asset class, but as a material component of the emirate's financial system.

Scott Thiel, Chief Executive of Dubai-based blockchain infrastructure company Tokinvest, described the democratising potential of tokenisation: "The ability to actually buy an amount you can afford and legally do that on-chain is going to open up lots of new capital."

The comment reflects a broader thesis: tokenisation does not merely replicate existing capital market structures — it expands the investor base entirely.

What Dubai's Regulatory Momentum Means for MENA

Dubai's trajectory is of direct consequence to capital markets across the GCC. VARA sits alongside ADGM's Financial Services Regulatory Authority, the CBUAE's digital currency framework, and DFSA in the DIFC as the four pillars of the UAE's layered regulatory architecture for digital assets. Together, these bodies have created a coherent institutional environment that no single jurisdiction in MENA currently matches.

For international firms evaluating their MENA digital asset strategy, the 50th VASP licence is not merely a headline figure. It represents a liquid, regulated, and institutionally accessible market operating at scale — with pipeline momentum that points toward continued expansion through 2026 and into 2027. The MENA Blockchain Week conference convenes precisely this community of regulators, infrastructure providers, and institutional adopters in Dubai.

Frequently Asked Questions

What is a VASP licence in Dubai?

A Virtual Asset Service Provider licence is issued by Dubai's Virtual Assets Regulatory Authority and authorises firms to legally offer blockchain and digital asset services within the Emirate of Dubai. Firms must meet VARA's capital, compliance, and operational requirements before receiving full authorisation.

How many VASP licences has VARA issued?

VARA has issued 50 VASP licences as of July 2026, with a further 20 firms expected to become fully operational in the coming months. The 50th licence was awarded to Tribe Tokenisation FZE, a real estate tokenisation platform.

Why is real-world asset tokenisation growing in Dubai?

Tokenisation allows assets such as real estate, commodities, and securities to be represented as digital tokens on a blockchain, enabling fractional ownership and 24/7 trading. VARA-regulated tokenisation platforms now represent the fastest-growing segment of Dubai's digital asset licence applications, driven by demand from both retail and institutional investors seeking more accessible, liquid exposure to traditionally illiquid assets.