Q9 Capital, a Hong Kong-based crypto investment platform, announced Thursday that it has received a provisional virtual asset (VA) approval from Dubai’s Virtual Asset Regulatory Authority (VARA) as it expands into the United Arab Emirates (UAE) and applies for the full operating license in accordance with VARA requirements.
Q9 said in a statement the firm aims to make a meaningful contribution to the VARA ecosystem as an engine for crypto product creation and execution in a regulated environment.
Products and strategies can be created and executed on Q9’s platform, such as systematic investment portfolios and white-labelled offerings, within VARA’s framework and distributed globally in an automated, transparent, regulated and compliant manner, it added.
According to the statement, the full operating license, once received, will allow Q9 to extend products and services to qualified investors and financial service providers.
Q9 will also establish a regional hub in Dubai to contribute to developing the ever-expanding virtual asset ecosystem both in Dubai and globally.
The provisional approval is a major milestone that follows a number of registrations for Q9’s local entities in Hong Kong and Dubai.
As a regulation-led platform with robust compliance and security controls that have consumer protection and market integrity at its core, the registration further strengthens Q9’s position.
As the world’s first independent regulator for virtual assets, VARA serves as a transparent and trusted guiding authority for the emerging world of virtual assets.
“Dubai remains committed to providing secure guardrails that enable credible global participants to test and scale innovative technology-backed solutions, for traditional finance products to be customised across the fast- evolving DeFi-CeFi landscape,” said Helal Saeed Almarri, Chairman of VARA.
“Q9 Capital’s entry into the VARA regime is testament to the industry’s appetite for robust yet progressive regulations, backed by strong enforceability ultimately supporting responsible market behaviours,
“We look forward to working closely with the sector and our global counterparts in driving the safe adoption and evolution of the Virtual Assets ecosystem in a regulated space,” he added.
James Quinn, Managing Partner of Q9 said Dubai’s Virtual Assets Regulatory Authority is a testament to the country’s forward-looking stance on digital assets and its willingness to support the industry through collaboration.
“We look forward to participating in the authority’s robust compliance framework and continue building partnerships as we expand our presence in Dubai to roll out additional services and enhanced products for the region,” he added.
Q9 is a transformational crypto investment management platform delivering cutting-edge solutions and capabilities to crypto and TradFi firms.
Its next-gen infrastructure allows institutions to expand their offerings, distribute innovative products and simplify operations for enhanced innovation.
The firm’s revolutionary investment engine and white-labelled solutions enable asset and wealth managers to seamlessly create, execute, manage and report digital asset investment strategies through a single UI.
Investors can build, customize and fully-automate systematic portfolios using a wide product range and access the entire market through one relationship.
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