TechFlow news, according to CoinDesk, crypto lending platform Nexo has announced it has received preliminary approval from Dubai's Virtual Assets Regulatory Authority (VARA), meaning the platform may operate locally as a licensed entity.
Nexo's path to full licensing consists of three stages: preliminary temporary license, preparatory license, and operating license. Currently, its regional entity Nexo DTC is seeking full approval for lending and borrowing, management and investment, and brokerage and proprietary trading activities.




