DKK Partners FZE, a company that specializes in foreign exchange (FX) and emerging markets (EM) liquidity, has received initial approval from VARA. This allows them to proceed with the licensing process and provide stablecoin blockchain technology—using USDT and USDC—to corporate and institutional customers in Dubai and the UAE.

"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," added Victoria Albergini, head of partnerships for DKK Partners FZE in Dubai. Our capacity to meet the particular requirements of corporate and institutional clients is improved by the VARA first approval.

The VARA Initial Approval solidifies Dubai's position as a key center for DKK Partners' Middle East operations and advances the company's overall digital asset strategy.

From this point forward, DKK Partners FZE will keep working to get a complete Virtual Asset Service Provider License from VARA.

"It is an extremely exciting time for DKK in the Middle East and securing the VARA Initial approval will enable us to continue making a splash in the region," said Khalid Talukder, co-founder and CEO of DKK Partners, in response to the announcement.

"We're trying to grow our influence in the market by improving our compliance and innovation in the virtual asset field after our successful entrance into Dubai last year.

"This license is a game-changer for DKK and the Dubai digital asset landscape, enabling businesses to confidently engage in blockchain technology and reap the benefits of regulatory frameworks and stablecoin stability."

DKK Partners provides professional FX solutions to corporates and institutions in emerging economies. They control currency risk, provide ideal liquidity, and expedite local collections, all of which promote company expansion.