Caladan Secures In-Principle Approval for Broker-Dealer Services in Dubai
Digital asset market maker Caladan has received in-principle approval from Dubai's Virtual Assets Regulatory Authority (VARA) for broker-dealer services aimed at institutional clients.
Caladan, a market maker specializing in digital assets with operations in Asia, has announced that its Dubai entity has secured in-principle approval from the Dubai's Virtual Assets Regulatory Authority (VARA). This approval pertains to broker-dealer services for institutional clients operating under the emirate's virtual asset framework.
The in-principle approval signifies a strategic step for Caladan as it looks to expand its presence within the Middle East financial hub. The company intends to offer its services to entities such as investment funds, hedge funds, and other institutional players engaging with virtual assets.
This regulatory milestone positions Caladan to leverage Dubai's established financial infrastructure and its evolving regulatory landscape for digital assets. The company aims to provide liquidity and trading solutions tailored for institutional needs within the virtual asset space.
While the exact timeline for the launch of full broker-dealer services has not been detailed, this approval from VARA is a crucial step in Caladan's operational expansion in the region.