Dubai Grants First Virtual Asset License to Singaporean Web3 Firm -Breaking

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Dubai Grants First Virtual Asset License to Singaporean Web3 FirmDubai Grants First Virtual Asset License To Singaporean Web3 Company

  • Dubai has given Calvin Cheng Web3 Holdings an virtual asset license
  • VARA is the world’s first specialized regulator for virtual assets.
  • Calvin Cheng, a Singaporean investor/entrepreneur.

Calvin Cheng Web3 Holdings FZE has been granted a provisional Virtual Asset License by the Dubai Virtual Asset Regulatory Authority. Calvin Cheng is an investor from Singapore and entrepreneur.

Cheng established a NFT- and fan token holding company in Dubai. This business mogul is also a former member of Singaporean Parliament. Cheng applied for the license to work in a controlled ecosystem.

Established in March 2022, VARA is the world’s first specialized regulator for virtual assets. This regulator is expected play an important role in creating opportunities in Dubai’s virtual asset sector. Under the VARA’s supervision, all business services will be subject to thorough regulatory oversight, and end-to …

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