Dubai’s VARA Grants 50th Crypto VASP License to Tribe Tokenisation FZE

Dubai’s Virtual Assets Regulatory Authority (VARA) has issued its 50th virtual asset service provider (VASP) license, approving tokenized assets platform Tribe Tokenisation FZE. According to Cointelegraph, VARA announced the latest authorization on Monday, marking a milestone in the emirate’s crypto licensing program while noting that license totals alone do not indicate how many firms are actively operating or the scale of their business activity. A VARA spokesperson said an active license does not necessarily mean a company has completed its commercial launch, as newly licensed firms may undergo a controlled operationalization period before offering services or onboarding customers. VARA previously classified 39 licensed VASPs as fully operational at the end of 2025, and the spokesperson said the regulator is validating an updated figure for 2026. Dubai has spent the past several years positioning itself as a global hub for digital asset businesses, including establishing VARA in March 2022 as a dedicated crypto regulator and implementing a standalone licensing framework aimed at attracting crypto firms. Against this backdrop, Dubai’s total of 50 licensed VASPs exceeds the headline totals reported in Hong Kong and Singapore, though the figures are not directly comparable because each jurisdiction licenses different types of crypto businesses. As of Friday, the Monetary Authority of Singapore listed 37 major payment institutions authorized to provide digital payment token services under Singapore’s broader payments regime rather than a standalone VASP regulator. In Hong Kong, the Securities and Futures Commission listed 13 formally licensed virtual asset trading platforms, reflecting a narrower regime focused specifically on platform operators. The VARA spokesperson attributed Dubai’s market growth to its activity-based regulatory framework and broader financial ecosystem, adding that the regulator also considers transaction volumes, assets under management, employment, and audited financial data when assessing market activity.