The company must now navigate through the subsequent phases — obtaining a preparatory license followed by the final operating license — to fully offer its crypto services to regional clients.
Cryptocurrency lending platform Nexo is looking to set aside its past regulatory challenges in Bulgaria and the United States after its Dubai entity received initial approval from the emirate’s Virtual Assets Regulatory Authority (VARA).
The initial approval awarded to Nexo Services FZE will be for virtual asset lending and borrowing, management and investment and broker-dealer services, according to a March 5 announcement shared with Cointelegraph via email.
The company must now navigate through the subsequent phases — obtaining a preparatory license followed by the final operating license — to fully offer those crypto services to regional clients via its mobile and web platforms.
