VARA

The nonprofit Gear Foundation is doubling-down on its efforts to grow Vara Network’s ecosystem of decentralized applications with the newly announced Vara Grants Program. It said it’s inviting proposals from developer teams now.  The new program is said to be a conduit for individuals and developer teams alike, providing support, technical expertise, community outreach and marketing support.  It’s aimed at boosting Vara Network, the L1 blockchain that leverages the capabilities of Gear Protocol to enable more flexible, intelligent smart contracts…

Deribit FZE, the Dubai entity of crypto derivatives firm Deribit, announced it received a conditional Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Asset Regulatory Authority (VARA). The platform will also relocate its global headquarters to Dubai.   Deribit FZE secured a conditional Virtual Assets Service Provider license from Dubai’s financial regulator. The conditional license allows Deribit to offer VA Exchanges Services and covers both spot and derivatives trading. The license, however, is non-operational until Deribit satisfies the VARA’s remaining…

The Dubai Virtual Assets Regulators Authority (VARA) has granted crypto exchange OKX, formerly OKEx, a provisional virtual assets license. OKX announced this bullish news through a press release on July 14. The license would allow the Seychelles-based exchange to offer select services to qualified investors in the United Arab Emirates (UAE). According to the press release, the license will also allow OKX to build a regional hub at the Dubai World Trade Center. This hub would go a long way…