Hassan Maishera
TL;DR
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BitGo has secured a VARA license as the regulator issues a penalty against 19 crypto-related companies.
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The company is moving forward with its plans to go public in the United States.
BitGo Obtains a VARA License
Digital asset infrastructure company BitGo announced on Tuesday that it had secured regulatory approval to offer specific services in Dubai. This latest development comes as Dubai’s Virtual Assets Regulatory Authority (VARA) continues to crack down on several companies.
BitGo MENA has officially received its Broker-Dealer license from VARA, unlocking regulated digital asset trading and intermediation services for institutional clients across the region.
— BitGo (@BitGo) October 7, 2025
With this milestone, institutional clients can now trade digital assets with greater… pic.twitter.com/LpnEGUpVs4
According to BitGo, its Middle East and North Africa (MENA) arm had secured a broker-dealer license from the regulator, allowing it to provide regulated digital asset trading and intermediation services to institutional clients.
This latest development comes shortly after the crypto custodian announced that its European subsidiary could offer crypto services to local investors after obtaining a license from Germany’s Federal Financial Supervisory Authority.
Ben Choy, general manager of BitGo MENA, commented that,
“This approval allows us to serve institutional clients with greater scale, confidence, and integrity, while also underscoring the accelerating momentum within Dubai’s digital asset ecosystem.”
BitGo’s announcement comes less than 24 hours after Dubai’s digital assets regulator revealed that it had issued financial penalties against 19 companies for “unlicensed Virtual Asset activities and “breaches of VARA’s Marketing Regulations.”
Several crypto companies, including OKX, have obtained a VARA license in recent months to enable them to offer their products and services in Dubai as the market grows
BitGo is exploring a potential initial public offering (IPO) in the United States. Last month, the company filed for an IPO and intends to list on the NYSE under the ticker BTGO, with the company currently managing over $90 billion in crypto on its platform.
