Flipster has secured a full operational exchange license from the Virtual Assets Regulatory Authority, the UAE's cryptocurrency regulator, according to an announcement July 28. The license grants Flipster permission to operate a regulated cryptocurrency exchange across UAE markets.
The transition from in-principle approval to full operational status represents a step toward expanded crypto trading infrastructure in the Emirates. VARA, established under UAE federal law, oversees virtual asset service providers and has licensed multiple exchange operators since its creation. Flipster joins a field of regulated platforms already holding operational permits from the authority.
The UAE has positioned itself as a regional hub for cryptocurrency services, with Dubai and Abu Dhabi hosting major exchanges and trading firms. VARA's licensing regime, which distinguishes between in-principle approval and full operational status, creates a phased entry path for platforms seeking to serve the market. Full operational licenses carry obligations around custody, market surveillance, anti-money-laundering compliance, and capital requirements set by the regulator.
Flipster's license grant comes as several jurisdictions have tightened or clarified cryptocurrency exchange rules. The EU's Markets in Crypto Regulation took effect in December 2024, requiring exchanges operating in member states to meet stringent operational standards. Singapore's Monetary Authority and Hong Kong's Securities and Futures Commission have each licensed a limited number of exchanges under similarly structured frameworks.
VARA has not disclosed the total number of operational licenses it has issued to date, though the authority has granted in-principle approvals to dozens of applicants since 2023. The regulator publicly lists licensed entities on its website. Flipster's operational status allows it to begin or expand live trading services subject to VARA's ongoing compliance requirements.
