Amber Group, a global leader in digital assets, in partnership with NH Management, has reached a significant milestone: its Dubai-based subsidiary, Amber Premium FZE, has obtained in-principle approval for a Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA). This accomplishment highlights the commitment of both Amber Group and NH Management to adhering to Dubai’s robust regulatory environment.
This initial approval allows Amber Premium FZE to provide a wide range of virtual asset services, including broker-dealer activities, lending and borrowing solutions, and management and investment services, all within the regulatory framework of the UAE.
As the independent regulatory body for virtual assets in Dubai, VARA is key to maintaining transparency and compliance in the virtual asset industry across Dubai’s free zones and mainland (excluding the Dubai International Financial Centre).
“This achievement is a testament to our commitment to regulatory compliance and responsible growth. Dubai’s progressive regulatory environment, along with the invaluable support of NH Management, positions us to establisha strong virtual asset ecosystem.” Michael Wu, CEO of Amber Group.
NH Management has been instrumental in facilitating the initial approval process and will continue to support Amber Group in obtaining the full operational VARA license. This partnership reflects their shared dedication to fostering innovation and regulatory excellence in the digital asset sector.
Working with Amber Group to reach this milestone underscores our commitment to advancing strategic initiatives in the digital asset space. We are eager to continue our partnership, navigating the regulatorylandscape with our expertise and unlocking new opportunities in the Middle East market.
Tao Xiao, Managing Partner at NH Management.
NH Management is a leading corporate services and consultancy firm, serving newcomers with local understanding, combined with a global perspective. The company’s position allows for strategic insights and practical solutions that drive success across diverseindustries.
The in-principle approval of the VASP license from VARA represents a crucial step in Amber Group’s mission to promote transparency, integrity, and trust in its operations. As one of the first digital asset firms globally to achieve this milestone, NH Management is proud to have facilitated this, allowing Amber Premium FZE to reaffirm its commitment to leading the industry with responsible growth and innovation.