DUBAI, 10th November, 2026 (WAM) -- The Dubai Virtual Assets Regulatory Authority (VARA) and Mastercard have announced their collaboration to support the continued growth and development of Dubai’s virtual assets ecosystem.
The new Memorandum of Understanding (MoU) brings together VARA’s regulatory expertise and Mastercard’s global experience in payments technology and digital innovation, reflecting a shared commitment to fostering a trusted, innovative and sustainable virtual assets sector.
The collaboration also draws on Mastercard’s experience in developing the infrastructure and capabilities needed to support the use of stablecoins and other digital forms of value in real-world payments, including the recent acquisition of stablecoin infrastructure leader BVNK.
Through the collaboration, both organisations will seek to strengthen industry engagement, facilitate knowledge sharing and explore opportunities to support emerging technologies and market participants.
The parties will also explore initiatives to support founders and emerging businesses in the virtual assets sector, including opportunities for experimentation through regulatory sandboxes.
Matthew White, Chief Executive Officer of VARA, said, “Dubai's ambition is not simply to participate in the future of finance, but to help shape it. Collaboration between regulators and global industry leaders is essential to building an ecosystem where innovation can flourish alongside strong regulatory standards. Our engagement with Mastercard reflects our commitment to fostering responsible innovation, strengthening market confidence and ensuring Dubai remains at the forefront of the evolving digital economy.”
Gina Petersen-Skyrme, Senior Vice President and Country Manager, UAE and Oman, at Mastercard, said,
“The potential of digital assets lies in their ability to create new ways for people and businesses to exchange value. Realizing that potential requires clear regulatory frameworks, trusted infrastructure and close collaboration across the ecosystem. At Mastercard, we are bringing our global expertise in payments, security and digital assets to our work with VARA, exploring how emerging technologies can be applied responsibly and contribute to Dubai’s ambition to shape the future of finance.”
The MoU reinforces Dubai’s commitment to constructive collaboration between regulators and the private sector, supporting the emirate’s broader ambition to position itself as a leading global destination for responsible virtual assets innovation.
It also aligns with the Dubai Economic Agenda (D33), which places innovation and digital transformation at the heart of the Emirate’s long-term economic development.