• Platform offers regulated access to virtual assets with AED settlement, institutional-grade execution, and UAE banking rails, backed by 27 years of UAE financial services heritage
  • Licence reinforces Dubai's position as a leading global hub for regulated virtual asset activity

Dubai, United Arab Emirates: Daman Virtual Asset Brokerage L.L.C. ("Daman Virtual") has secured a Broker-Dealer licence from the Virtual Assets Regulatory Authority, authorising it to operate as a Virtual Asset Service Provider (VASP) in Dubai.

Daman Virtual is the next-generation institutional virtual assets arm of Daman Securities, a wholly owned subsidiary of Daman Investments, a leading non-banking financial services group, offering investment, advisory, wealth and asset management, brokerage, and lending services with tailored portfolio strategies in the UAE for over 27 years.

Built for institutions, high-net-worth individuals and businesses, Daman Virtual enables secure conversion between fiat and digital assets, alongside spot trading. The platform combines execution, settlement and compliance within a single framework, with AED settlement, UAE banking rails, deep liquidity and institutional-grade operating standards at its core, designed to support large-volume transactions within a fully regulated environment.

The licence comes at a time when demand for regulated digital asset infrastructure is accelerating globally. As stablecoins, tokenised value transfer and digital asset markets continue to mature, the need for trusted, well-governed access points has become increasingly clear. In the UAE, that creates a significant opportunity for locally regulated platforms that can support institutional participation with greater confidence, clarity and control.

The licence also marks a significant milestone not only for Daman Virtual but for Dubai's broader virtual asset ecosystem. Established in 2022 under Dubai Law No. 4 of 2022, VARA has played a central role in building a structured, credible regulatory environment for the sector, setting clear standards for governance, transparency, and investor protection.

Against this backdrop, the availability of regulated infrastructure is a key factor in enabling institutional participation in digital assets, aligned with the standards of governance, control, and operational discipline expected by global financial markets.

Shehab Gargash, Founder and Chairman of Daman Securities, said: "The integration of digital assets into the broader financial system is no longer a question of if, but how. Dubai has consistently demonstrated its ability to evolve as a financial centre, creating the right conditions for that shift to happen responsibly. Daman Virtual is our response to that moment, built on 27 years of regulated financial services and designed for the standards that serious capital demands."

Built on Daman's broader financial services platform, Daman Virtual forms part of an established ecosystem alongside Daman Investments, Daman Securities & Daman Markets with a long-standing track record in financial services and deep institutional relationships across the UAE. This foundation provides counterparties with a recognised and credible framework for engaging in digital asset transactions.

Ahmed Ismail, Co-Founder of Daman Virtual, said: "For years, institutional access to virtual assets has been fragmented, opaque, and largely unregulated. Daman Virtual is changing that. By bringing best execution, conversion and settlement into a single, regulated platform, we're giving institutions the ability to participate quickly, compliantly, and at scale.

As part of the Daman securities ecosystem, we bring a strong heritage in regulated financial services, governance and institutional relationships, which underpins how we've built this platform. Securing a licence from the Dubai Virtual Assets Regulatory Authority is a defining milestone, giving us the clarity and foundation to bring it to market with confidence."

Beyond execution, Daman Virtual offers clients dedicated “white glove” relationship management, fully segregated accounts and insured assets, and an onboarding process designed to meet institutional standards. The platform's ambitions extend beyond Dubai, with Daman Virtual positioning itself as the institutional gateway for virtual assets across the GCC.

With its VARA Broker-Dealer licence now secured, Daman Virtual will officially launch in mid-May, bringing its flagship platform, Daman Crypto, to market. Designed to deliver compliant digital asset trading, integrated settlement and institutional-grade execution under VARA supervision, Daman Crypto will be available to institutional clients, HNWIs, family offices, corporates and Web3 companies seeking a regulated, UAE-based gateway to digital assets. For more information, visit https://damanvirtual.com/.

About Daman Virtual:

Daman Virtual Asset Brokerage L.L.C. is the institutional virtual assets arm of Daman Securities, a leading UAE brokerage with over 27 years of financial services heritage. Licensed by the Dubai Virtual Assets Regulatory Authority (VARA) as a Broker-Dealer, Daman Virtual provides institutions, businesses, high-net-worth individuals, and Web3 companies with regulated access to virtual assets, backed by UAE banking rails and AED settlement. Its flagship platform, Daman Crypto, delivers compliant digital asset trading with institutional-grade security and transparent execution under VARA supervision. Built on a human-led service model, Daman Virtual is designed to be the institutional gateway for virtual assets across the GCC.

For more information, visit https://damanvirtual.com/.

About VARA:

Established in March 2022, following the effect of Law No. 4 of 2022, VARA is the competent entity in charge of regulating, supervising, and overseeing VAs and VA Activities in all commercial zones across the Emirate of Dubai, including Special Development Zones and Free Zones but excluding the Dubai International Financial Centre. VARA plays a central role in creating Dubai's advanced legal framework to protect investors and establish international standards for Virtual Asset industry governance, while supporting the vision for a borderless economy.

For media queries:
The Alto Agency on behalf of Daman Virtual
damanvirtual@thealtoagency.com