The Dubai crypto market has reached 50 licensed institutions, VARA approves the tokenization platform Tribe Tokenisation

According to Cointelegraph, the Dubai Virtual Assets Regulatory Authority (VARA) has granted the 50th Virtual Asset Service Provider (VASP) license to the tokenized asset platform Tribe Tokenisation FZE. VARA stated that licensed enterprises must undergo a controlled operation phase before officially providing services. By the end of 2025, 39 licensed VASPs will be fully operational, and the latest data for 2026 is still being verified. In comparison, Singapore currently has 37 licensed digital payment token service providers, while Hong Kong has only 13 licensed virtual asset trading platforms.