The licence, specifically for Virtual Asset Broker-Dealer service activities, places WadzPay at the forefront of the virtual asset revolution in the Middle East. However, the licence will remain non-operational until WadzPay meets all pre-set conditions and localisation requirements enforced by VARA. Upon meeting these conditions, WadzPay will be subject to further regulatory review and approval before it can fully launch its operations.
WadzPay's technology, which has been pioneering in the field of blockchain and virtual assets, is set to offer innovative solutions that promise to redefine the way virtual asset transactions are handled across the Middle East.
The granting of the VASP Licence is expected to bolster the fintech ecosystem in the region by providing a compliant and secure framework for virtual asset transactions. This aligns with WadzPay's mission to ensure that financial institutions and customers can leverage blockchain technology's benefits while adhering to the highest regulatory standards.
WadzPay, established in 2018 in Singapore, has been dedicated to driving financial inclusion and revolutionizing the virtual asset landscape globally. The company provides a secure, efficient, and transparent platform for virtual asset transactions, catering to both businesses and consumers.
