Dubai awards conditional crypto license to climate-friendly Web3 firm
AYA is a climate-focused launchpad that supports innovations around sustainability, such as reforestation, nature credits, mangrove conservation and sustainable agriculture.
Dubai’s Virtual Assets Regulatory Authority (VARA) granted a conditional license to Enjinstarter’s AYA platform for offering crypto asset and investment services.
On Dec. 11, the Dubai arm of Web3 launchpad and advisory firm Enjinstarter received a crypto license subject to fulfilling certain conditions before the commencement of services. After meeting all the requirements of VARA, the platform will be subject to regulatory verification and approval. The announcement read:
Enjinstarter has not yet responded to Cointelegraph’s request for comments about the outstanding regulatory prerequisites. However, in the official announcement, Prakash Somosundram, the co-founder and CEO of Enjinstarter and the AYA foundation, shared the company’s willingness to comply with the process laid out by VARA.
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Author: Arijit Sarkar
