Amber Group & NH Management Get VASP License Approval from VARA

Amber Group, a renowned global leader in digital assets, together with NH Management, has reached a pivotal achievement. Amber Premium FZE, a Dubai-based subsidiary of Amber Group, has secured in-principle approval for a Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA). This notable success underscores both Amber Group’s and NH Management’s commitment to adhering to the stringent regulatory standards set by Dubai's virtual asset framework.

Initial Approval Grants New Opportunities

With this initial approval, Amber Premium FZE is now poised to offer a broad range of virtual asset services. These include activities such as broker-dealer services, lending and borrowing solutions, as well as asset management and investment offerings. All of these services will operate within the legal and regulatory framework established by the UAE, further positioning the company to expand its presence and influence in the region's digital asset market.

"This achievement is a testament to our commitment to regulatory compliance and responsible growth," said Michael Wu, CEO of Amber Group. "Dubai’s progressive regulatory environment, along with the invaluable support of NH Management, positions us to establish a strong virtual asset ecosystem."

VARA’s Role in Regulating Dubai’s Virtual Asset Space

VARA, serving as the independent regulatory authority for virtual assets within Dubai, plays a critical role in ensuring transparency and compliance within the sector. Its jurisdiction spans across Dubai’s free zones and mainland, with the exception of the Dubai International Financial Centre. VARA’s regulatory oversight is pivotal in maintaining the integrity and security of virtual asset operations across the region.

"Working with Amber Group to reach this milestone underscores our commitment to advancing strategic initiatives in the digital asset space," said Tao Xiao, Managing Partner at NH Management. "We are eager to continue our partnership, navigating the regulatory landscape with our expertise and unlocking new opportunities in the Middle East market."

NH Management’s Strategic Involvement in the Process

NH Management has been a key player in facilitating Amber Premium FZE's initial approval process. The consultancy firm will continue to offer support as Amber Group works toward securing the full operational VARA license. This partnership demonstrates both companies' shared vision of fostering innovation while ensuring regulatory excellence in the rapidly growing digital asset industry.

NH Management’s Expertise in Corporate Services

NH Management stands as a leading provider of corporate services and consultancy, especially for businesses venturing into new markets. With a deep understanding of local regulatory requirements combined with a global perspective, NH Management is uniquely positioned to offer strategic guidance and practical solutions, driving success for companies across a range of industries.

Commitment to Transparency and Innovation

Receiving in-principle approval for the VASP license is a crucial step in Amber Group’s broader mission to promote transparency, integrity, and trust in its operations. As one of the pioneering digital asset companies to achieve this milestone, Amber Premium FZE, with the support of NH Management, reaffirms its commitment to leading the digital asset industry responsibly, with a focus on sustainable growth and continued innovation.