- Flipster can now offer crypto exchange services and work toward getting a full license.
- At first, the company will focus on spot trading of major cryptocurrencies.
- Flipster partnered with Chainalysis to upgrade its internal security and compliance tools.
Global crypto exchange Flipster FZE has received in-principle approval (IPA) from Dubai’s crypto regulator, Virtual Assets Regulatory Authority (VARA). This moves the company closer to offering fully licensed crypto trading services in the UAE.
The preliminary license (IPA/26/01/004) allows Flipster to offer crypto exchange services and work toward getting a full license under Dubai’s VARA rules. At first, the company will focus on spot trading of major cryptocurrencies, with a goal of providing users with a safe and regulation-compliant way to trade.
The approval was granted on January 30, 2026, and Flipster is now busy preparing its systems and meeting the final licensing conditions.
Leaders at Flipster said the approval shows that regulators trust the company’s commitment to following the rules and offering users a secure and by-the-book way to trade crypto.
On the topic, Benjamin Grolimund, General Manager at Flipster 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’re committed to building trading solutions that meet the highest standards globally.”
Flipster is also upgrading its internal security and compliance tools. It has teamed up with blockchain analytics firm Chainalysis to improve transaction tracking, risk detection, and anti-money-laundering systems, which are all key areas regulators look at.
These upgrades not only help meet VARA’s requirements but also position Flipster to expand into other regulated markets around the world.
Related: ‘User Obsession is Key’: Flipster Exec Shares Growth Secrets (Interview)
Dubai and the UAE as a Crypto Regulatory Hub
Dubai’s crypto regulator, VARA, has built one of the strictest and most organized licensing systems in the world. It’s designed to let crypto companies innovate while keeping investors safe. VARA oversees crypto service providers across most of Dubai, including its free zones and mainland (except the DIFC financial center).
VARA’s detailed rulebooks, which are updated regularly, set precise expectations for compliance, anti-money laundering efforts, customer asset protection, and overall business conduct. Discussions around these regulations have been in motion since at least 2025.
Other firms, like Amber Premium FZE, received similar preliminary approvals in late 2025. The growing list of licensed players shows that regulated digital asset services are steadily establishing themselves in the UAE.
Gaining regulatory approval in Dubai is increasingly seen as a strategic entry point into Middle Eastern crypto markets, since the regulations there are much clearer when compared to most of the world.
Related: Dubai Launches Phase Two of Property Tokenisation Project
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