Nine Blocks becomes first crypto hedge fund approved by Dubai’s VARA
The “market neutral trading firm” named Dubai for its global headquarters as the region experiences an influx of crypto companies seeking new users. Nine Blocks Capital Management FZE bagged a crypto license from Dubai’s Virtual Assets Regulatory Authority (VARA), making Nine Blocks the first digital asset hedge fund to win VARA’s nod according to a Nov. 27 announcement. The license will allow Nine Blocks to offer virtual asset services to crypto users in Dubai, including digital asset management and investment products. Additionally, the firm plans to open a global head office in what is largely regarded as the primary international hub for the United Arab Emirates. You might also like: Dubai offering 90% license fee discount to web3 projects This license is the culmination of a process that started with an MOU between Nine Blocks and VARA, allowing knowledge sharing and consultation. Nine Blocks press statement Nine Blocks is a self-professed “ne...