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Amber Premium has received in-principle approval from Dubai's Virtual Assets Regulatory Authority (VARA) for its local subsidiary to operate as a licensed virtual asset service provider.
The approval announced Wednesday marks the final stage before full authorization for Amber Premium FZE to conduct virtual asset activities in the UAE. Michael Wu, CEO and chairman of Amber Premium, described the milestone as advancing the company's goal to deliver institutional-grade digital wealth management in the region.
"VARA's in-principle approval is a milestone in our long-term build. We are deliberate in pacing growth with governance," Wu said in the statement. He emphasized the company's commitment to compliance-first decisions and alignment with regulatory expectations.
Dubai's VARA has granted licenses to multiple international crypto firms as the emirate positions itself as a regulated hub for digital asset services. In-principle approval typically precedes full licensing by several months while applicants complete final compliance requirements.
Amber Premium operates as the private banking division of Amber Group, serving ultra-high-net-worth individuals and institutions. The platform is listed on Nasdaq under ticker AMBR.
The company has been expanding its institutional offerings throughout 2025. In July, Amber completed a $25.5 million private placement at $10.45 per ADS to support its $100 million crypto reserve strategy, with participation from Pantera Capital and other institutional investors. The reserve targets Bitcoin, Ethereum, Solana, Binance Coin, Ripple, and Sui.
In September, Amber announced entry into the digital assets treasury sector, positioning itself to serve publicly listed companies globally that now hold over $110 billion in Bitcoin. The company identified a gap between corporate digital asset acquisition and the infrastructure needed to manage those holdings effectively.
Amber's DAT services provide consulting, trade execution, compliance support, and custody through what the company describes as an integrated platform. The offering targets corporations seeking alternatives to basic buy-and-hold strategies, addressing cash flow optimization, regulatory oversight, and risk management requirements.
