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Crypto Lender Nexo Secures First Regulatory Victory in Dubai
Receiving a full license involves three stages: an initial provisional permit, a preparatory license, and an operating license.
- Nexo has won initial approval to operate as a licensed entity in Dubai.
- Nexo’s regional entity is seeking to win full approval for Lending & Borrowing, Management & Investment, and Broker-Dealer activities.
Nexo, a company offering digital asset services, has won initial approval as a licensed entity in Dubai from the region’s Virtual Assets Regulatory Authority (VARA), it announced Tuesday.
Receiving a full license involves three stages: an initial provisional permit, a preparatory license, and an operating license. Nexo’s regional entity, Nexo DTC, is seeking to win full approval for Lending & Borrowing, Management & Investment, and Broker-Dealer activities.
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Dubai is the most populous city in the UAE, and along with the nation’s capital, Abu Dabhi, it has been trying to attract financial institutions as it vies to become a global crypto hub. While VARA’s public record register does not show Nexo DTC having won an initial approval yet, the register is usually updated within a few days of such developments.
“Nexo is enthusiastic about the pursuit of new market strategies aligned with the transformative guidance of Dubai’s Virtual Asset Regulatory Authority,” said Kalin Metodiev, co-founder and managing partner at Nexo.
Previously, Nexo agreed to pay $45 million to the SEC for failing to register the offer and sale of its Earn Interest Product (EIP). But it has also sought $3 billion in damages from Bulgaria for bringing it disrepute after the nation’s investigation found no evidence against the company.
Read More: Crypto Lender Nexo Seeking $3B in Damages From Bulgaria
UPDATE (March 5, 14:40 UTC): Changes lead photo
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Bilinmesi gerekenler:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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CFTC Launches Digital Assets Pilot Allowing Bitcoin, Ether and USDC as Collateral
Acting Chair Caroline Pham has unveiled a first-of-its-kind U.S. program to permit tokenized collateral in derivatives markets, citing "clear guardrails" for firms.
Bilinmesi gerekenler:
- The CFTC has launched a pilot program allowing BTC, ETH and USDC to be used as collateral in U.S. derivatives markets.
- The program is aimed at approved futures commission merchants and includes strict custody, reporting and oversight requirements.
- The agency also issued updated guidance for tokenized assets and withdrew outdated restrictions following the GENIUS Act.
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