The Bahrain-based digital asset firm lands in-principle approval to offer regulated crypto-to-dirham conversions in Dubai, marking its second GCC market. ARP Digital, a digital capital infrastructure platform backed by one of the Gulf’s oldest merchant families, has received in-principle approval from Dubai’s Virtual Assets Regulatory Authority to operate as a broker-dealer. The approval, granted on April 28, opens the door for ARP Digital to eventually facilitate regulated conversions of digital assets and stablecoins into UAE dirhams. As of now, no public confirmation of a full VARA license for ARP Digital has emerged, which is consistent with how VARA handles these approvals. Once fully licensed, ARP Digital would be able to offer regulated digital asset and stablecoin conversions into AED, providing an institutional-grade on-ramp and off-ramp between crypto and the UAE’s national currency.