Caladan's Dubai Entity Secures In-Principle Approval from VARA for Broker-Dealer Services

Caladan Receives In-Principle Approval from VARA

Caladan, a notable player in the Asian digital asset market, recently disclosed that its Dubai-based entity, CLDN Broker Dealer FZE, has received In-Principle Approval (IPA) from the Virtual Assets Regulatory Authority (VARA) for Broker-Dealer Services intended for institutional clients. This milestone was achieved on September 15, 2026, and marks a significant step forward in Caladan's operations within the regulated financial landscape of Dubai.

This approval comes as part of Caladan's strategic plan to establish compliant operations in prominent financial hubs, facilitating smoother trading for its clientele. Julia Zhou, President and Co-Founder of Caladan, emphasized the importance of the regulatory framework in Dubai, stating, "Dubai has one of the clearest regulatory frameworks for virtual assets in the world." Their collaboration with VARA has focused on governance and risk management, ensuring that they meet compliance standards set by the authority.

Caladan has been supplying aggregated liquidity for digital assets across more than 40 exchanges and numerous bilateral counterparties. This capability allows the company to streamline fragmented digital markets into a single source, accessible via their application programming interface (API) which supports sub-10ms latency alongside FIX protocol versions 4.4 and 5.0SP2. As demand surges, institutional clients increasingly require stable relationships with regulated brokers, making this approval vital for Caladan's growth amid a highly competitive market.

The IPA, however, does not equate to a full license, meaning that CLDN Broker Dealer FZE is not yet authorized to conduct Broker-Dealer Services from Dubai. Zhou remained optimistic about the future, noting that the approval paves the way for catering specifically to institutional clients. She stated, "We are witnessing a growing global demand from institutional clients for the aggregated liquidity we provide. They need to work with a regulated counterparty to invest significant capital, and this approval is a stride toward offering those services in Dubai. We appreciate VARA's proactive engagement throughout this process."

Caladan has longstanding expertise in the digital asset space, with an impressive annual trading volume exceeding $170 billion. The firm provides market-making services coupled with liquidity provisioning to token issuers, exchanges, and institutional clients. The company's operations, while expanding, also remain compliant with regulations outside of Singapore, thus establishing a robust international presence in the digital finance sector.

In summary, Caladan's recent achievements reflect the growing trend towards regulatory collaboration within the virtual assets market. Their planned offerings following the full licensing will not only enhance the landscape for institutional trading in Dubai but also reinforce the emirate's reputation as a forward-thinking financial center. By positioning itself under such a reputable regulatory body as VARA, Caladan not only enhances its own operations but also contributes to the overall integrity of the digital asset markets in the region.

For more information about Caladan and its services, visit Caladan's Website.