Fastex Receives Initial Approval from VARA
Fastex, a complete Web3-driven ecosystem, has announced that it has received initial approval from the Virtual Assets Regulatory Authority of Dubai (VARA).
While this initial approval does not yet allow Fastex to engage in virtual asset activities in and from the Emirate of Dubai, it marks the first step toward securing a full regulatory license.
Vigen Badalyan, the co-founder of Fastex, expressed that this approval is a significant achievement for the company, stating “The approval is a big accomplishment for Fastex. It is a step forward for the company to expand its reach in the Middle East and share the latest innovations in virtual assets. We aim to provide the best platform in the Web3 landscape and VARA’s approval allows us to move forward and achieve results. We are honoured to receive this initial approval from VARA,”
The initial approval from VARA is a positive indicator of Fastex’s commitment to regulatory compliance and its aspirations to operate within the virtual assets landscape under appropriate regulations.