Dubai, UAE - Flipster, a global cryptocurrency trading platform, has secured in-principle approval from the Virtual Assets Regulatory Authority (VARA) for operations under Flipster FZE, the company announced. The authorization is a foundational step in Flipster's planned expansion into the Middle East and underscores the firm's intent to offer regulated access to digital assets within established legal frameworks.
The in-principle approval permits Flipster FZE to move forward toward providing regulated virtual asset services under VARA's framework, with spot trading slated as the initial offering. The decision aligns with Flipster's stated strategy to conduct operations in markets that provide regulatory clarity and to prioritize safe, compliant access for users.
Benjamin Grolimund, General Manager at Flipster FZE, characterized the approval as a demonstration of the company’s long-term commitment to the region. In his statement, Grolimund said that the Middle East has become a blueprint for how digital assets should be regulated and adopted, and that VARA’s framework supports innovation while prioritizing trust and security. He reiterated Flipster’s focus on building trading solutions that adhere to high global standards.
Flipster’s regulatory advance is accompanied by investments in compliance infrastructure. The platform has formed a partnership with Chainalysis to strengthen its transaction monitoring and risk management capabilities. According to Flipster, this relationship supports its preparedness to meet VARA’s regulatory expectations and to operate with heightened accountability and oversight.
The company first announced plans to enter the Middle East in May 2025, when it named Benjamin Grolimund, a fintech executive with prior leadership experience at Rain and Bloomberg, to lead regional efforts. Flipster cited the UAE’s regulatory clarity and a maturing digital asset ecosystem as factors that make the country a strategic hub for the platform’s global growth ambitions.
About Flipster FZE:
- Flipster FZE is a regulated digital asset exchange intending to provide spot trading across leading cryptocurrencies.
- The platform is designed for reliable execution, transparent pricing, and a streamlined user experience.
- Flipster emphasizes compliance and security to offer users a trusted venue for accessing digital asset markets.
For inquiries, Flipster provided a contact email: [email protected].
Note: The in-principle approval allows Flipster FZE to progress toward regulated operations under VARA but does not by itself describe final licensing conditions or the timeline to full market launch. Flipster’s public comments highlight compliance partnerships and regional leadership decisions as core components of its launch strategy.