Flipster FZE, a global cryptocurrency trading platform, received a full operational Exchange licence from Dubai's Virtual Assets Regulatory Authority (VARA) under Licence No. VL/26/07/002. The approval upgrades Flipster's earlier in-principle status and authorizes the company to offer regulated virtual asset services in the United Arab Emirates. The licence enables Flipster to begin serving customers under VARA's regulatory framework, which sets requirements for custody, governance, and compliance. Dubai's virtual asset market has attracted growing numbers of global crypto firms seeking regulatory approval, with VARA maintaining strict compliance standards while expanding the range of licensed services available in the emirate.
Flipster Receives Operational Licence Under VARA Framework
The operational licence allows Flipster to serve customers under VARA's regulatory framework after previously receiving in-principle approval. Flipster will begin by offering spot trading services to customers in the UAE, with plans to expand its regulated product offerings over time. Outside the UAE, the platform also provides access to real-world asset perpetual products in supported jurisdictions.
Flipster first outlined its Middle East expansion plans in May 2025 with the appointment of Benjamin Grolimund as General Manager of Flipster FZE. The operational licence now allows the company to move from preparing its regional business to delivering regulated services in the UAE. Flipster joins a growing list of global crypto firms that have secured regulatory approval from VARA. This year, Crypto.com received approval to offer derivatives trading in the UAE before expanding its regulated offerings into digital payments.
VARA Enforces Compliance Standards Across Dubai Crypto Market
Founded in 2023, Flipster enters an increasingly competitive market as more exchanges establish regulated operations under VARA's oversight. The regulator has continued to broaden the range of licensed crypto services available in the UAE while maintaining strict compliance standards for market participants. VARA has also introduced formal rules for crypto derivatives trading.
In recent months, VARA fined 19 crypto firms for operating without the required licences and reminded businesses that only entities listed on its public register are authorised to provide virtual asset services in or from Dubai. The regulator has also shown a willingness to withdraw approvals when firms fail to meet its requirements. Following the collapse of FTX, VARA revoked the exchange's Dubai licence.
FAQ
What licence did Flipster receive from VARA?
Flipster FZE received a full operational Exchange licence from Dubai's Virtual Assets Regulatory Authority (VARA) under Licence No. VL/26/07/002, upgrading the company's earlier in-principle approval to full operational status.
What enforcement actions has VARA taken recently?
In recent months, VARA fined 19 crypto firms for operating without the required licences and revoked FTX's Dubai licence following the exchange's collapse, reinforcing its focus on regulatory compliance and market integrity.
