Flipster, a global cryptocurrency trading platform, has secured a full operational Exchange licence from Dubai’s Virtual Assets Regulatory Authority (VARA), allowing the company to offer regulated virtual asset services in the United Arab Emirates.
The licence, issued to Flipster FZE under Licence No. VL/26/07/002, upgrades the company’s earlier in-principle approval to full operational status under VARA. The approval also marks the latest milestone in Flipster’s expansion into the Middle East, where it established a regional presence last year.
Flipster said it will begin by offering spot trading services to customers in the UAE, with plans to expand its regulated product offerings over time. Outside the UAE, the platform also provides access to real-world asset perpetual products in supported jurisdictions, giving eligible users exposure to both digital assets and traditional financial markets.
Flipster Moves From Approval to Operations
The operational licence enables Flipster to begin serving customers under VARA’s regulatory framework after previously receiving in-principle approval. The framework sets requirements for areas including custody, governance and compliance, which licensed firms must meet to operate in Dubai’s virtual asset market. Moving to full operational status places Flipster among the firms cleared to onboard users directly rather than remaining in a preparatory phase.
Flipster first outlined its Middle East expansion plans in May 2025 with the appointment of Benjamin Grolimund as General Manager of Flipster FZE. The operational licence now allows the company to move from preparing its regional business to delivering regulated services in the UAE, positioning the platform to compete in one of the world’s more established virtual asset markets.
Flipster joins a growing list of global crypto firms that have secured regulatory approval from VARA. Earlier this year, Crypto.com received approval to offer derivatives trading in the UAE before expanding its regulated offerings into digital payments, underscoring Dubai’s growing appeal as a hub for virtual asset businesses.
VARA Continues to Expand Oversight of Dubai’s Crypto Market
Founded in 2023, Flipster enters an increasingly competitive market as more exchanges establish regulated operations under VARA’s oversight. The regulator has continued to broaden the range of licensed crypto services available in the UAE while maintaining strict compliance standards for market participants, building a framework that other jurisdictions have watched closely. VARA has also introduced formal rules for crypto derivatives trading, creating a defined pathway for the kind of perpetual products that platforms such as Flipster offer in supported markets.
In recent months, VARA fined 19 crypto firms for operating without the required licences and reminded businesses that only entities listed on its public register are authorised to provide virtual asset services in or from Dubai. The enforcement action highlights the compliance obligations attached to obtaining and maintaining a VARA licence. The regulator has also shown a willingness to withdraw approvals when firms fail to meet its requirements. Following the collapse of FTX, VARA revoked the exchange’s Dubai licence, reinforcing its focus on regulatory compliance and market integrity as more global crypto firms seek approval to operate in the emirate.