According to Aiying, European digital asset platform Bitpanda has received in-principle approval from the UAE Virtual Asset Regulatory Authority (VARA). This lays the foundation for the company to conduct business under the name Bitpanda Broker MENA DMCC, marking its expansion into markets outside Europe. Bitpanda needs to take further steps to obtain full operational approval, including setting up an operating office in Dubai, forming a regional management team, and implementing VARA-compliant infrastructure to support its services.
