Last updated: 24 July 2026. A running tracker of virtual asset service providers (VASPs) licensed by Dubai’s Virtual Assets Regulatory Authority (VARA). Dubai has now licensed 50 VASPs — the 50th, Tribe Tokenisation FZE, issued in July 2026 — making it one of the world’s most active regulated crypto hubs. The complete register is maintained by VARA; the table below curates the most notable and recently-licensed providers with their licence type and operational status.
Source of truth: the official VARA public register. Figures verified by Cryptonite from public regulatory announcements.
Key takeaways
- Dubai’s VARA has issued 50 VASP licences as of July 2026.
- Major exchanges — Binance, OKX, Crypto.com — hold full or operational approvals.
- Kraken (preliminary) and Bybit (provisional) are still scaling toward full operation.
- Licences are activity-based: each service a provider offers needs its own authorisation.
Notable VARA-licensed VASPs
| Provider | Licence type | Status | Notes |
|---|---|---|---|
| Binance | VASP (exchange, retail) | Operational | Full retail exchange licence |
| OKX | VASP (exchange) | Operational | Licensed exchange & broker-dealer services |
| Crypto.com | Stored Value Facility (SVF) | Operational | SVF licence (May 2026) — enables payments incl. government services |
| Kraken | VASP (exchange) | Preliminary approval | Initial/preliminary VARA approval; scaling UAE ops |
| Bybit | VA Exchange Services | Provisional (non-operational) | Provisional VARA approval; holds full UAE SCA licence (Oct 2025) |
| Tribe Tokenisation FZE | VASP (tokenisation) | Operational | 50th VARA licence issued (Jul 2026) |
How VARA licence categories work
VARA issues activity-based licences — a provider must be authorised for each specific service it offers. The main categories:
- Exchange Services — operating a virtual-asset trading venue
- Broker-Dealer Services — matching buyers and sellers
- Custody Services — safeguarding client virtual assets
- Lending & Borrowing Services
- Advisory Services
- Management & Investment Services
A licence typically moves through preliminary approval → operational conditions met → full operational licence. “Provisional” or “preliminary” means the provider is not yet cleared for full public operations.
Related coverage
- Dubai Crypto Regulation 2025: VARA 2.0 Explained
- Binance VASP License Dubai: What VARA Approval Means
- Bybit’s Full UAE Crypto License and SCA Expansion
- UAE Stablecoin Regulations: The Central Bank Framework
Frequently asked questions
How many VASPs has VARA licensed?
As of July 2026, Dubai’s VARA has issued 50 VASP licences. The 50th went to Tribe Tokenisation FZE. VARA maintains the official public register of all licensed providers.
Is Binance licensed by VARA?
Yes. Binance holds a full VARA VASP licence for retail virtual-asset exchange services in Dubai.
What does a “provisional” VARA licence mean?
A provisional or preliminary approval means the provider has cleared initial requirements but is not yet authorised for full public operations. Bybit, for example, holds a provisional VARA approval while operating under a full UAE SCA licence.
Cryptonite is independent of the projects it covers. This tracker is informational and not financial, legal, or tax advice. Licence status changes frequently — always confirm against VARA’s official register. See our Editorial Policy.
