DKK Partners, a London-based startup specializing in emerging markets and foreign exchange liquidity, has announced that its Dubai World Trade Center (DWTC)-based subsidiary DKK Partners FZE has received initial approval from the Virtual Assets Regulatory Authority of Dubai (VARA) to offer Virtual Asset Broker agent services.

DKK Partners FZE said it will continue to work towards obtaining a full virtual asset service license from VARA.

DKK Partners empowers companies and institutions in emerging markets with specialized FX solutions. They manage currency risk, ensure optimal liquidity and streamline local collections, driving business growth.

VARA’s initial approval allows DKK FZE to move forward with the licensing process as they look to offer corporate and institutional customers in Dubai and the UAE access to the stablecoin’s blockchain technology, using USDT and USDC.

Khalid Talukder, Co-Founder and CEO of DKK Partners, said:

“This is an incredibly exciting time for DKK in the Middle East and securing initial VARA approval will allow us to continue to make inroads in the region. Our expansion into Dubai last year was a huge success and we are looking to expand our influence in the market by strengthening our compliance and innovation in the virtual assets space. This license is a game-changer for DKK and the digital asset landscape in Dubai, enabling businesses to confidently engage in blockchain technology, benefiting from stablecoin stability and regulatory framework.”

Victoria Alberghini, Head of Partnerships for DKK Partners FZE in Dubai said:

“Since our launch last year, DKK Dubai has gone from strength to strength and is now in a prime position in the rapidly evolving digital asset landscape. VARA’s initial approval strengthens our ability to serve the unique needs of corporate and institutional clients.”

VARA’s initial approval furthers DKK Partners’ primary digital asset strategy, establishing Dubai as a central hub for their Middle East operations. DKK Partners had announced the opening of an office in Dubai early last year.