Triple-A, a Singapore-based crypto payments infrastructure provider, has secured an In-Principle Approval from Dubai's Virtual Assets Regulatory Authority for broker-dealer services. The IPA moves the company into the final stage of Dubai's licensing process. Triple-A now only needs to complete operational readiness requirements to obtain a full license.
Broker-dealer services in Dubai
The IPA covers broker-dealer services, a key piece of the crypto financial ecosystem. It lets Triple-A operate under VARA's regulatory framework once fully licensed. The company already provides payment infrastructure for businesses accepting crypto, and this approval opens the door to a broader set of regulated activities in Dubai.
Final stage of licensing
Dubai's VARA has a multi-stage licensing process. The IPA is the second-to-last step. It signals that the regulator has reviewed Triple-A's application and found it substantially compliant. The remaining hurdle is operational readiness — a checklist of practical requirements the firm must meet before VARA issues the full license.
Operational readiness ahead
Triple-A will now work through those operational readiness conditions. The company hasn't disclosed a timeline, but the IPA itself is a strong signal that VARA is satisfied with the core application. For a payments infrastructure firm, the operational requirements typically cover things like custody arrangements, compliance systems, and local office setup.
Dubai has been building out its virtual asset regulatory regime under VARA since 2022. The city-state aims to attract crypto firms with clear rules and a dedicated regulator. Triple-A's IPA is one of several recent approvals as VARA processes a backlog of applications.
Triple-A will now focus on meeting the remaining conditions. A date for full license approval hasn't been announced.
