Global cryptocurrency exchange Flipster FZE has received In-Principle Approval (IPA) from Dubai’s cryptocurrency regulator, Virtual Assets Regulatory Authority (VARA). This brings the company closer to offering fully licensed crypto trading services in the UAE.
The preliminary license (IPA/26/01/004) allows Flipster to provide crypto exchange services and work towards obtaining a full license under Dubai’s VARA regulations. The company will initially focus on spot trading of major cryptocurrencies, with the goal of providing users with a secure and compliant trading method.
This approval was granted on January 30, 2026, and Flipster is currently busy preparing the system and meeting final licensing conditions.
Flipstar executives said the approval shows regulators have confidence in the company’s commitment to following the rules and providing users with a safe and compliant way to trade cryptocurrencies.
Commenting on this topic, Benjamin Grolimund, General Manager of Flipstar FZE, said: “This milestone is a meaningful vote of confidence in our long-term commitment to the region. The Middle East has become a blueprint for how digital assets should be regulated and adopted. VARA’s clear framework enables innovation while prioritizing trust and security, and we are committed to building trading solutions that meet the highest global standards.”
Flipster is also upgrading its internal security and compliance tools. The company partnered with blockchain analytics firm Chainaracy to improve its transaction tracking, risk detection, and anti-money laundering systems, which are key areas of focus for regulators.
These upgrades not only meet VARA requirements, but also position Flipster to expand into other regulated markets around the world.
Related: “User obsession is the key”: Flipster Exec shares the secret to growth (Interview)
Dubai and UAE as Cryptocurrency Regulatory Hub
VARA, Dubai’s cryptocurrency regulator, has built one of the most stringent and organized licensing systems in the world. It is designed to enable cryptocurrency companies to innovate while keeping investors safe. VARA supervises most cryptocurrency service providers in Dubai, including free zones and the mainland (excluding DIFC Financial Center).
VARA’s detailed, regularly updated rulebook sets out precise expectations for compliance, anti-money laundering efforts, protection of customer assets, and overall business conduct. Discussions over these regulations have been going on since at least 2025.
Other companies, such as Amber Premium FZE, received similar preliminary approvals in late 2025. The growing list of licensed players indicates that regulated digital asset services are steadily establishing themselves in the UAE.
Obtaining regulatory approval in Dubai is increasingly seen as a strategic entry point into the Middle East’s crypto market, as regulations in Dubai are much clearer than in most countries around the world.
Related: Dubai launches second phase of real estate tokenization project
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