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Crypto

DMCC tokenises 1,971-kg world\'s largest silver bar in Dubai

Dubai’s Dubai Multi Commodities Centre (DMCC) has begun issuing digital fractional stakes backed by a 1,971-kg silver bar listed as the world’s largest, CoinPost reported. The product is launched under Dubai crypto regulator VARA’s framework, with Tokinvest handling issuance. The token is issued as an asset-referenced virtual asset (ARVA) on BNB Chain. The physical bar is registered and verified on DMCC Tradeflow, while Brink’s handles storage and logistics.

Crypto

Revolut receives in-principle approval for crypto services from UAE authorities

Revolut has received in-principle approval to provide cryptocurrency-related services in the United Arab Emirates. Cointelegraph reported that Dubai’s Virtual Assets Regulatory Authority approved Revolut in principle to offer broker-dealer, investment management and exchange services. Revolut said the approval builds on earlier authorisation for payment activities from the UAE central bank and provides a basis to expand its local crypto business. It plans to enable UAE users to buy, sell and hold digital assets through its app and the Revolut X exchange.

Crypto

Kraken clears Dubai regulatory hurdle, UAE market entry in sight

Crypto exchange Kraken\'s parent Payward has received preliminary approval from Dubai\'s Virtual Assets Regulatory Authority (VARA). Cointelegraph reported that Payward secured preliminary approval for broker-dealer, investment and management licences and announced plans to expand in Dubai. A formal launch date has not been set. Once services begin, it plans to support UAE dirham transfers, margin trading and over-the-counter trading, and to offer Kraken Prime to institutional clients.