DUBAI, 9th November, 2026 (WAM) -- CFI Financial Group (CFI), a globally recognised leader in online trading services, today announced that CFIX Virtual Assets Broker & Dealer Services L.L.C.S.O.C (CFIX), its dedicated virtual assets entity in Dubai, has received In-Principle Approval (IPA) from Dubai's Virtual Assets Regulatory Authority (VARA) for Broker-Dealer services.
CFIX marks an important step in the Group's expansion into virtual assets, extending its ambitions beyond traditional trading and investing into the evolving virtual asset economy. The approval brings CFIX one step closer to obtaining a full Virtual Asset Service Provider (VASP) license, and represents another milestone in CFI's broader growth strategy.
Ziad Melhem, CEO of CFI Financial Group, said, “The virtual asset industry has spent the past decade proving its technology. The next decade will be about proving its standards. The UAE is where much of that future is being shaped, and Dubai's regulatory environment provides a strong foundation for the industry's next phase. For CFI, CFIX is a natural extension of the financial ecosystem we are building, bringing our experience in regulated markets into a new and evolving sector.
“Receiving VARA's In-Principle Approval is an important milestone, and reflects the progress made in establishing CFIX. Our focus now is on completing the remaining licensing requirements and building a business designed for the long term.”
Over the coming months, CFIX will work to meet the conditions VARA has set, including finalising its leadership appointments, operational infrastructure, governance arrangements and regulatory controls. CFIX will not commence virtual asset services unless and until its full VASP licence is granted.