Dubai, United Arab Emirates – Roma (www.roma.global), has obtained an operational Virtual Asset Service Provider license by Dubai’s Virtual Assets Regulatory Authority (VARA). This allows Roma to offer regulated broker-dealer services in virtual assets, serving customers with digital asset on-ramp/off-ramp, brokerage and OTC services.
Founded by Amit Jain, a former Managing Director at Sequoia Capital, Roma secured a $22 million seed funding round in 2022. The round was led by Sequoia Capital India with participation from several global company CEOs as angel investors - towards a mission of building the financial infrastructure of the future, one where tokenization and digital assets are an integral component.
Roma already operates globally with licenses in Europe and Canada, and serves enterprises, financial institutions, funds and family offices, marketplaces and leading Web3 chains and exchanges. With the issuing of this license, Roma is set to launch support for AED local rails on-ramps and off-ramps, and support customers in the region.
Commenting on securing the license, Roma founder Amit Jain said: "We are delighted to receive the VARA license. It has been an absolute pleasure working with VARA in this journey, and we're looking forward to working closely with their team to shape the future of financial infrastructure globally”.
He added “This is a significant milestone for Roma in our mission towards bridging the gap between fiat and digital assets across the globe, with the absolute highest standards of regulatory compliance. We are excited to partner with customers in the region, as MENA continues to rapidly become a hub for digital innovation globally”.
For more details about Roma (operating under Varni Labs FZE) and their offerings, visit www.roma.global or follow them on LinkedIn and Twitter.
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 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 more information visit: www.vara.ae