- Dubai’s VARA approved Ctrl Alt as first VASP for crypto issuer services in the Emirate.
- License allows Ctrl Alt full-stack RWA tokenization, including ARVA token issuance.
- This sets a new licensing precedent; Ctrl Alt already worked with Dubai Land Dept.
Abu Dhabi-based Ctrl Alt, a regulated digital assets infrastructure provider, just received a significant regulatory green light from Dubai’s Virtual Assets Regulatory Authority (VARA). This approval makes Ctrl Alt the first Virtual Asset Service Provider (VASP) officially authorized to conduct issuer-related services in the Emirate.
The move not only expands Ctrl Alt’s operational scope in the region but also sets a new licensing precedent for VARA.
New License Permits Full-Stack RWA Tokenization, ARVA Issuance
The newly issued license will allow Ctrl Alt to provide both Broker-Dealer and Issuer services under Dubai’s comprehensive digital asset framework. According to VARA’s authorization, Ctrl Alt is now licensed to offer a full-stack infrastructure for tokenized real-world assets (RWAs). This includes the issuance and distribution of ARVA tokens – a specific type of RWA token.
This is a landmark development because it’s the first time VARA has issued a license that specifically includes these issuer capabilities.
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Ctrl Alt Already Active in Dubai with Land Department RWA Project
Ctrl Alt isn’t entirely new to the Dubai scene. The platform’s infrastructure was recently put to use in a collaboration with the Dubai Land Department on a Real Estate Tokenization Project.
For that initiative, Ctrl Alt provided the core technical framework for minting and placing property tokens on-chain. This enabled regulatory-compliant asset issuance and management for real estate.
Ctrl Alt Executives Hail Milestone for Regulated Tokenization in UAE
Company leaders from Ctrl Alt were quick to comment on the approval. Matt Ong, CEO of Ctrl Alt, confirmed the new license. He stated that it establishes the company’s fully regulated presence in the UAE and enables them to operate a compliant infrastructure specifically for financial product tokenization.
Related: Ripple Obtains VASP License to Offer Digital Services in Ireland
Robert Farquhar, who leads Ctrl Alt’s operations across the MENA region, also weighed in. He said that Dubai’s regulatory clarity made it possible for the company to meet the necessary requirements for token issuance. Farquhar added that this license firmly positions Ctrl Alt within the broader VASP ecosystem under VARA oversight.
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