The Virtual Assets Regulatory Authority (VARA) of Dubai has issued its 50th Virtual Asset Service Provider (VASP) license to Tribe Tokenisation FZE, a real-world asset (RWA) tokenization platform.
The milestone marks a significant step in Dubai’s efforts to build a regulated digital asset industry. However, VARA clarified that the number of licenses does not reflect the number of firms currently operating, as only 39 licensed VASPs were fully operational by the end of 2025. Tribe Tokenisation is required to complete VARA’s operational process before launching its services. VARA has been overseeing crypto businesses in Dubai since March 2022.
This 50th licensing highlights Dubai’s ambition to become a global hub for virtual assets, though many licensees are still in the preparatory phase.
