The Virtual Assets Regulatory Authority (VARA) in Dubai has granted a total of 36 comprehensive licences to companies operating within the virtual assets domain.
Matthew White, Chief Executive Officer of VARA, informed the Emirates News Agency (WAM) that several hundred businesses are currently progressing through different stages of the licensing procedure, with fresh applications continually being submitted by international firms aiming to establish a presence in Dubai.
He further remarked that the ecosystem now comprises over 400 registered entities engaged in activities such as proprietary trading, blockchain-based services, and other ancillary operations.
White also underlined VARA’s strategic alliance with the Dubai Land Department, which commenced in early 2025. This initiative seeks to facilitate a pioneering regulatory framework that supports fractional ownership of real estate via tokenised assets.
He elaborated that the fractional ownership model allows individuals to invest in a portion of a property without needing to acquire it in its entirety, thereby widening access to real estate investment for those who may not have the means to purchase whole units. This approach has further solidified Dubai’s reputation as a global centre for both property innovation and digital assets.
During its pilot phase, the initiative successfully listed two properties under the fractional ownership scheme, drawing interest from approximately 300 investors—70 percent of whom were first-time buyers in the Dubai property market. According to White, this reflects the initiative’s success in appealing to a new and diverse investor base, both locally and internationally.
