DKK Partners’ Dubai-based subsidiary, DKK Digital FZE, secures In-Principle Approval from VARA, set to expand virtual asset services in the UAE

Dubai, UAE—22 January 2025—DKK Digital FZE, based in the Dubai World Trade Centre, as a subsidiary of DKK, has successfully secured an in-principle approval from the Dubai Virtual Assets Regulatory Authority (VARA). This is an important milestone in DKK’s journey to becoming a regulated Virtual Asset Service Provider (VASP) in the UAE.

Founded in England, DKK Partners is a multinational firm with eight offices worldwide, including one in the UAE. It is a recognised foreign exchange liquidity provider specialising in emerging markets, offering corporate and institutional clients worldwide seamless, interoperable FX and settlement solutions. The recent In-Principle Approval from VARA enables DKK to work towards the VASP License to provide a suite of services to its clients officially. These services include seamless fiat on/off ramp capabilities, custodial services, and liquidity provision using stablecoins such as the Electronic Dirham, Tether, Ripple USD, and USD Coin. Notably, one of the services available to clients in the UAE is the DKK Ocean, an innovative e-commerce solution designed to give clients access to live-streamed rates across various fiat currencies and stablecoins.

Hisham Al Gurg, CEO of Seed Group and The Private Office of Sheikh Saeed bin Ahmed Al Maktoum, shared his enthusiasm on this development, stating, “We offer our warmest congratulations to our strategic partner, DKK Partners, on securing the In-Principe Approval. This accomplishment is a reaffirmation of their solid operational framework and innovative approach in the virtual assets sector. Their commitment to compliance with regulatory standards and forward-thinking strategies makes them a trusted partner in advancing Dubai’s digital economy.”

Driven by its goal of empowering the future of digital finance, Khalid Talukder, Co-Founder and CEO of DKK Digital FZE, remarked, “We are thrilled to have received In-Principle Approval from VARA license as a VASP. This is a key milestone that positions DKK Digital as a trusted and compliant leader in the virtual assets space. This approval aligns us with global regulatory standards, enabling us to deliver secure, innovative solutions while fostering trust among clients and partners. It also opens doors to broader markets, institutional collaborations, and the development and distribution of cutting-edge digital asset products, further solidifying our role in shaping the future of virtual assets in the UAE and beyond.”

The In-Principle Approval emphasises DKK’s adherence to stringent anti-money laundering (AML) and counter-terrorism financing (CTF) standards and is a substantial move forward in its expansion as a trusted digital asset service provider.  Indeed, DKK is well-positioned to establish impactful collaborations with regional banks, and other institutional collaborators under the VARA license.

VARA is the sole authority regulating virtual assets in Dubai’s free zones and mainland, excluding the Dubai International Financial Centre. Its licensing framework is comprehensive, covering a range of virtual asset operations that require enterprises to adhere to stringent guidelines. This means that to successfully gain the license approval, DKK Partners must meet rigorous standards, including documentation that supports operational credibility. 

As a strategic partner of Seed Group, a company of The Private Office of Sheikh Saeed bin Ahmed Al Maktoum, DKK Partners has gained a strong standing in one of the world’s most innovative financial hubs. Following the recent In-Principal Approval, DKK Partners will introduce customised offerings, build local partnerships, and utilise the city’s strategic status as a global financial centre.

About DKK Partners

DKK Partners’ platform offers quick, secure access to currencies in both emerging and established markets. Founded in 2020 by Khalid Talukder and Dominic Duru, DKK Partners is an emerging markets (EM) FX liquidity provider leveraging blockchain technology to deliver liquidity faster to (EM) processing over $1.9BN of flow and an impressive EBITDA of $1.3M. At DKK, with our years of experience within emerging markets and foreign exchange, we develop strategies and methodologies that help corporations and FI institutions alike more effectively manage currency risk and develop sharp pricing.

QUICK: Fast access to currency and a frictionless experience, enabled via stablecoin rails or SWIFT, and on-the-ground service capabilities.

SECURE: Guaranteed confidence from regulated, compliant technology, and global credibility that allow access to secure funds at all times.

ACCESS: Consistent, reliable access to currencies and liquidity, enabled through our local presence, global partnership network, and banking experience.

For more information, visit www.dkkpartners.com.

DKK Partners Media Contact

Shanice Khalef
+44 (0) 2032057295
shanice.khalef@dkkpartners.com