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Blockchain Technology. Getty Images Image used for illustrative purpose.
DKK Partners FZE (DKK) has been granted initial approval to offer virtual asset broker dealer services by Dubai’s Virtual Assets Regulatory Authority (VARA).
The Dubai World Trade Centre (DWTC)-based company, which is a subsidiary of DKK Partners - a fintech specialising in emerging markets and foreign exchange (FX) liquidity - said it will continue to work towards a virtual asset service provider (VASP) licence from VARA.
The initial approval allows it to move towards receiving a full licence to offer blockchain technology services to corporate and institutional customers in Dubai and the UAE through stablecoins tether (USDT) and USD Coin (USDC).
(Reporting by Imogen Lillywhite; editing by Seban Scaria)
