Amber Premium Secures In-Principle Approval for Dubai License - A Major Step for Crypto in the Gulf

Dubai's financial regulator just handed Amber Premium a golden ticket—in-principle approval for a Virtual Asset Service Provider license. This isn't just another corporate filing; it's a strategic beachhead for institutional crypto in one of the world's most ambitious financial hubs.

Why Dubai Wants the Crypto Crowd

Look past the skyscrapers and luxury cars. Dubai's real play is becoming the digital asset nexus for the Middle East, Africa, and South Asia. The VARA framework isn't just regulation—it's a calculated invitation. The message is clear: bring your capital, your tech, and your compliance, but leave the wild-west antics at the door. For a firm like Amber, this approval is less about permission and more about positioning at the center of a massive, under-served market.

The Institutional On-Ramp Gets a Turbocharge

This move signals a maturation. We're moving past speculative retail trading into the realm of structured products, treasury management, and yield services for professional investors. An in-principle nod from VARA acts as a de facto seal of approval, cutting through the regulatory fog that still chokes progress in other jurisdictions. It tells asset managers and family offices that the infrastructure for serious capital is being built, right now.

What This Means for the Broader Ecosystem

Approvals like this create a domino effect. They validate the jurisdiction, attracting more builders and more capital. They force competing hubs to clarify their own rules or risk losing relevance. For the crypto market, it's another brick in the foundation of global legitimacy—proving that sophisticated financial services and digital assets aren't mutually exclusive, despite what some legacy bankers clinging to their spreadsheets might tell you.

One step closer to a world where your portfolio's digital assets are managed with the same rigor as its traditional holdings—because let's be honest, the old guard could use a lesson in efficiency that doesn't involve three-day settlement times and hefty intermediary fees.

Amber Premium has received in-principle approval from Dubai's VIRTUAL Assets Regulatory Authority (VARA) for its local subsidiary to operate as a licensed virtual asset service provider.

The approval announced Wednesday marks the final stage before full authorization for Amber Premium FZE to conduct virtual asset activities in the UAE. Michael Wu, CEO and chairman of Amber Premium, described the milestone as advancing the company's goal to deliver institutional-grade digital wealth management in the region.

"VARA's in-principle approval is a milestone in our long-term build. We are deliberate in pacing growth with governance," Wu said in the statement. He emphasized the company's commitment to compliance-first decisions and alignment with regulatory expectations.

Dubai's VARA has granted licenses to multiple international crypto firms as the emirate positions itself as a regulated hub for digital asset services. In-principle approval typically precedes full licensing by several months while applicants complete final compliance requirements.

Amber Premium operates as the private banking division of Amber Group, serving ultra-high-net-worth individuals and institutions. The platform is listed on Nasdaq under ticker AMBR.

The company has been expanding its institutional offerings throughout 2025. In July, Amber completed a $25.5 million private placement at $10.45 per ADS to support its $100 million crypto reserve strategy, with participation from Pantera Capital and other institutional investors. The reserve targets Bitcoin, Ethereum, Solana, Binance Coin, Ripple, and Sui.

In September, Amber announced entry into the digital assets treasury sector, positioning itself to serve publicly listed companies globally that now hold over $110 billion in Bitcoin. The company identified a gap between corporate digital asset acquisition and the infrastructure needed to manage those holdings effectively.

Amber's DAT services provide consulting, trade execution, compliance support, and custody through what the company describes as an integrated platform. The offering targets corporations seeking alternatives to basic buy-and-hold strategies, addressing cash FLOW optimization, regulatory oversight, and risk management requirements.