Bitgo Secures VARA Broker-Dealer License to Launch Regulated Institutional Trading in Dubai

Bitgo VARA broker-dealer license approval marks a major milestone for institutional crypto adoption in the Middle East. The U.S.-based crypto custody and trading giant announced on Monday that its Bitgo MENA FZE subsidiary has officially obtained a Broker-Dealer license from Dubai’s Virtual Assets Regulatory Authority (VARA), enabling it to offer fully regulated trading and custody services to institutional clients.

The move underscores Dubai’s growing role as a leading global digital-asset hub, attracting major crypto firms seeking regulatory clarity and institutional-grade infrastructure.

Dubai Strengthens Its Institutional Crypto Landscape

With this license, Bitgo joins a small but growing group of firms operating under VARA’s comprehensive digital-asset framework, which has quickly become one of the most sophisticated globally. The broker-dealer authorization allows Bitgo MENA to provide over-the-counter (OTC) trading, brokerage, and custodial solutions to regional institutions.

“This license is not just a regulatory milestone; it’s a commitment to building a safe and transparent digital-asset market in the UAE,” said Mike Belshe, CEO of Bitgo.

Belshe added that the company’s expansion into the region reflects rising demand for compliant crypto services among banks, sovereign wealth funds, and asset managers based in Dubai and Abu Dhabi.

VARA’s Expanding Regulatory Influence

Established in 2022, the Dubai Virtual Assets Regulatory Authority (VARA) has become the cornerstone of the UAE’s digital-asset oversight. The authority has already issued operational licenses to firms including Binance, OKX, Crypto.com, and Nomura’s Laser Digital, solidifying Dubai’s position as a top jurisdiction for global crypto innovation.

Bitgo’s entry signals VARA’s push toward attracting U.S. and European institutional players who are seeking regulated access to crypto markets amid tightening rules elsewhere.

According to VARA’s latest framework update in September 2025, licensed entities are now required to meet enhanced capital, AML/KYC, and insurance standards — aligning Dubai’s compliance with FATF and IOSCO recommendations.

Bitgo’s Institutional Focus in the Middle East

The new license enables Bitgo MENA to facilitate institutional trades in leading digital assets such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). It will also integrate with Bitgo’s qualified custody solutions, allowing funds to execute trades and store assets in a single compliant environment.

Bitgo’s Middle East strategy complements its growing global footprint. The company already holds trust licenses in the U.S., operates regulated entities in Germany and Switzerland, and provides services to over 1,500 institutional clients worldwide.

“We see strong momentum from institutional investors in the GCC,” said Jeff Horowitz, Bitgo’s Chief Compliance Officer. “With this VARA license, we can offer regional clients the same standards of transparency and safety that they expect from global capital markets.”

Industry Implications: A Signal for Institutional Growth

Market observers view Bitgo’s approval as another sign that institutional crypto adoption in the Middle East is accelerating. With sovereign funds exploring tokenized assets and regional banks piloting blockchain settlement, Dubai’s ecosystem is evolving into a core liquidity hub for the sector.

In the short term, Bitgo’s presence could intensify competition among institutional service providers. In the long run, it could help establish Dubai as the “Wall Street of Web3,” providing a regulatory model for neighboring markets like Saudi Arabia, Bahrain, and Qatar.

Outlook: Bitgo Eyes Expansion and Tokenization

Following its VARA license, Bitgo hinted that it plans to introduce tokenized treasury services and crypto-collateralized lending for institutional clients by 2026. The company is also exploring partnerships with regional banks and fintechs to enable on-ramp and off-ramp solutions.

As the UAE continues to attract digital-asset capital, Bitgo’s move sets a precedent for Western crypto firms seeking to align regulatory compliance with growth ambitions.

✅ Key Takeaways

• Bitgo MENA obtains VARA broker-dealer license in Dubai
• Enables regulated institutional crypto trading and custody
• Strengthens Dubai’s position as a Middle East crypto hub
• Reflects growing demand for compliant digital-asset services
• Signals a broader institutional shift toward the UAE