Ctrl Alt, a tokenisation infrastructure platform, as of today, has secured its licence from Dubai’s Virtual Assets Regulatory Authority (VARA) to function as a Virtual Assets Service Provider (VASP).
Ctrl Alt is the first VASP allowed to conduct issuer-related services, marking a significant step in Ctrl Alt’s global expansion and underlines its dedication to wielding robust regulatory frameworks.
Ctrl Alt was given a VARA licence that permits the company to administer licensed activities that include Broker-Dealer services and Issuer services.
VARA approves Ctrl Alt
VARA has granted a licence that permits Issuer services for the first time, a monumental achievement for Ctrl Alt.
This license allows Ctrl Alt to conduct a full-stack, regulatory-compliant platform for the design, control and distribution of tokenised real-world assets and ARVA tokens.
The latest example of this is Ctrl Alt’s partnership with the Dubai Land Department (DLD) on their Real Estate Tokenisation Project, where Ctrl Alt formed the structure to mint and place real estate tokens on-chain.
Dubai has established itself as a global leader in innovation and digital assets, particularly in the field of tokenisation.
Backed by progressive regulatory frameworks and a forward-thinking strategic vision, the emirate has solidified its reputation as a hub for digital and financial innovation.
Since its launch in 2022, the Virtual Assets Regulatory Authority (VARA) has played a crucial role in driving the growth of Dubai’s digital economy.
This supportive environment was a major factor in Ctrl Alt’s decision to set up operations in the region in 2024.
“We are proud to receive our VARA licence and establish fully regulated operations in the UAE. This achievement reflects our commitment to long-term regulatory alignment as we power the infrastructure for the next generation of financial products,” Matt Ong, Founder and CEO at Ctrl Alt said in a statement.
“Securing our VARA licence marks a pivotal moment not just for Ctrl Alt, but for the broader digital asset ecosystem in the region. Dubai’s progressive regulatory environment provides a strong foundation for innovation in tokenisation and we’re proud to contribute to that vision by delivering secure, compliant tokenisation infrastructure for real-world asset issuance,” Robert Farquhar, Head of MENA at Ctrl Alt, added.
This approval means Ctrl Alt becomes part of a developing ecosystem of licensed VASPs in one of the world’s most innovative and ambitious regulatory environments for Web3 and digital asset innovation.
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