Regulation· ★★· neutral·

Caladan's Dubai Entity Receives In-Principle Approval from VARA

  • —IPA granted September 15, 2026, reference IPA/26/09/004
  • —Caladan provides liquidity across 40+ exchanges and hundreds of tokens, $170B annual volume
  • —Services limited to institutional clients, no retail
  • —In-Principle Approval is not a license
Why it matters: Expands regulated institutional infrastructure in the UAE, intensifying competition for institutional liquidity in the region.
Source: PR Newswire Blockchain
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