AMBER Group Partners with NH Management to Attain Initial Approval from VARA
Dubai, UAE – September 17, 2024 – Amber Premium FZE, the Dubai-based subsidiary of Amber Group, a global leader in digital assets, has achieved initial approval for a Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA). This milestone was accomplished with the invaluable support of NH Management, highlighting both entities’ shared commitment to regulatory excellence and innovation in the digital asset sector.
This initial approval positions Amber Premium FZE to offer a comprehensive range of virtual asset services, including broker-dealer activities, lending and borrowing solutions, as well as management and investment services. These operations will be conducted within the robust regulatory framework established by the UAE, further solidifying Dubai’s role as a hub for virtual asset innovation and transparency.
Tao Xiao, Managing Partner at NH Management, stated, “Working alongside Amber Group to achieve this milestone reflects our ongoing dedication to advancing strategic initiatives in the digital asset space. We are thrilled to continue our partnership, leveraging our expertise in navigating the regulatory landscape and unlocking new opportunities in the Middle East market.”
Amber Group emphasized how NH Management played a critical role in facilitating the regulatory approval process. This collaboration underscores Amber Group’s intention to expand its presence in the Middle East, offering its innovative virtual asset services to both institutional and high-net-worth clients.
Michael Wu, CEO of Amber Group, added, “Securing this initial approval is a testament to our commitment to operating within strong regulatory environments like Dubai’s. With NH Management’s continued support, we are excited to build a secure and compliant virtual asset ecosystem in the region.”
The in-principle approval of the VASP license by VARA is a crucial step in Amber Group’s mission to promote transparency, integrity, and trust in its operations. It also marks Amber Group as one of the few global digital asset companies to achieve this recognition, with NH Management playing an instrumental role in facilitating the regulatory process.
About Amber Group
Amber Group is a leading digital asset firm headquartered in Singapore, providing comprehensive solutions that bridge traditional finance and digital assets. Founded in 2017, Amber Group offers a full suite of services, including wealth management, asset management, market making, advisory, and infrastructure, catering to high-net-worth individuals, institutions, and crypto-focused entities.
This successful initial approval by VARA marks an important step in both Amber Group and NH Management’s shared goal of driving responsible growth and innovation in the digital asset industry.
About NH Management
NH Management is a Dubai-based corporate services and consultancy firm specializing in regulatory compliance, market entry strategies, and business development, particularly within the digital asset and fintech sectors. By combining local market insights with global expertise, NH Management has successfully guided numerous companies through complex regulatory landscapes, empowering them to thrive in emerging markets across the Middle East.
