Ctrl Alt First Dubai Firm Approved for Crypto Issuer Services by VARA

Ctrl Alt, a tokenization infrastructure platform, has achieved a significant milestone by becoming the first firm in Dubai to receive approval from the Virtual Assets Regulatory Authority (VARA) for crypto issuer services. This approval allows Ctrl Alt to offer full-stack Real-World Asset (RWA) tokenization within the Emirate, a development that marks a notable advancement in the region's digital asset landscape.

The license granted to Ctrl Alt by VARA enables the company to operate as both a Broker-Dealer and an Issuer, a dual capability that positions it uniquely in the market. This approval is part of VARA's efforts to foster a regulated and secure environment for virtual asset activities, ensuring that firms like Ctrl Alt can provide reliable and compliant services to their clients.

Ctrl Alt's achievement is particularly noteworthy as it is the first Virtual Asset Service Provider (VASP) authorized to conduct issuer-related services under VARA's new ARVA token issuer category. This category is designed to support the issuance of regulated digital assets, further solidifying Dubai's stance as a forward-thinking hub for financial innovation.

The implications of this approval are far-reaching. By enabling full-stack RWA tokenization, Ctrl Alt can facilitate the conversion of traditional assets into digital tokens, making them more accessible and liquid. This capability is expected to attract a wide range of investors and institutions looking to leverage the benefits of blockchain technology while adhering to regulatory standards.

Moreover, Ctrl Alt's license underscores the growing importance of regulatory compliance in the digital asset space. As more firms seek to operate in Dubai, the presence of a regulated environment will be crucial in building trust and confidence among stakeholders. VARA's approval of Ctrl Alt sets a precedent for other firms looking to enter the market, emphasizing the need for robust regulatory frameworks.

Ctrl Alt is not new to the Dubai scene. The platform’s infrastructure was recently utilized in a collaboration with the Dubai Land Department on a Real Estate Tokenization Project. For this initiative, Ctrl Alt provided the core technical framework for minting and placing property tokens on-chain, enabling regulatory-compliant asset issuance and management for real estate.

Company leaders from Ctrl Alt were quick to comment on the approval. Matt Ong, CEO of Ctrl Alt, confirmed the new license. He stated that it establishes the company’s fully regulated presence in the UAE and enables them to operate a compliant infrastructure specifically for financial product tokenization. Robert Farquhar, who leads Ctrl Alt’s operations across the MENA region, also weighed in. He said that Dubai’s regulatory clarity made it possible for the company to meet the necessary requirements for token issuance. Farquhar added that this license firmly positions Ctrl Alt within the broader VASP ecosystem under VARA oversight.

In summary, Ctrl Alt's approval by VARA for crypto issuer services represents a significant step forward for the digital asset industry in Dubai. The company's ability to offer full-stack RWA tokenization and its dual role as a Broker-Dealer and Issuer position it as a leader in the region's evolving financial landscape. This development is expected to drive further innovation and investment in the digital asset space, solidifying Dubai's reputation as a global hub for financial technology.