Triple-A, a global payment institution headquartered in Singapore, has achieved a major regulatory milestone by securing In-Principle Approval (IPA) for broker-dealer services from the Virtual Assets Regulatory Authority (VARA), Dubai's independent virtual assets regulator.
The approval represents significant progress through VARA's rigorous licensing framework, positioning Triple-A to move toward full licensure in one of the world's most selective virtual asset jurisdictions. Currently, fewer than 50 entities hold full licenses from VARA.
"This milestone builds on the payments infrastructure we have already developed for the market where this is heading," Eric Barbier, chief executive officer of Triple-A, said in a statement on Wednesday. "It is an achievement that reflects months of rigorous work by our compliance, legal, and cross-functional teams, and our long-term commitment to operating within regulated frameworks."
Pathway to Full Licensing
With the IPA granted, Triple-A now enters a defined window to fulfill operational readiness requirements and address remaining post-approval conditions. The company's licensing assessment continues as it progresses toward final approval.
The approval underscores Triple-A's established compliance infrastructure across multiple major markets. The company is licensed under MiCA in the EU and operates under the Monetary Authority of Singapore (MAS) framework in Asia. Domestically, Triple-A holds Money Transmitter Licenses across more than 20 U.S. jurisdictions and is registered as a Money Services Business in both the U.S. and Canada.
Compliance forms the company's second-largest department, reflecting its foundational commitment to regulatory standards since inception. The team's expertise proved instrumental in navigating VARA's stringent assessment process.
Strategic Significance
The IPA represents Triple-A's expanding footprint in regulated virtual asset markets and reinforces its position as a compliant infrastructure provider for enterprise clients worldwide. As VARA continues establishing itself as a leading virtual assets regulator, Triple-A's approval demonstrates confidence in the company's operational and compliance capabilities.
The company expects to complete remaining licensing requirements in the coming months.
