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TOKO receives provisional approval for a virtual assets license from Dubai Virtual Assets Regulatory Authority (VARA)

26 September 2022 – TOKO, delivered in collaboration with DLA Piper, has been granted a provisional approval from the Government of Dubai’s VARA to receive a Virtual Asset MVP License. TOKO is opening an office in Dubai and is committed to accelerating the development of the virtual asset industry and nurturing ecosystem development in the region.

“TOKO is excited about Dubai’s potential and ambition to become a global hub for virtual assets and financial innovation especially with the government’s ‘Test-Adapt-Evolve’ approach to regulatory policy and market oversight” said TOKO founder Scott Thiel. “Dubai’s new regulatory framework provides the right environment for innovation, and I believe Dubai’s newly formed virtual assets ecosystem will provide a launchpad to deliver our vision to democratize finance and empower value creation.”

TOKO is in the process of applying for a license with Dubai's VARA to provide a wide range of virtual asset services to enterprise and institutional clients. TOKO has presence in Hong Kong, United Kingdom, and North America and the establishment of the Dubai office as its regional headquarters in the Middle East will strengthen TOKO’s mission of helping clients solve the inefficiencies of today’s capital markets by leveraging the best of distributed ledger technology.

TOKO is an award winning virtual asset creation and management solution, delivered in collaboration with global law firm DLA Piper who were recently named winner of the “Innovation in Digital Finance” category of the Financial Times Asia Pacific Innovative Law Firm Awards for its work with TOKO.

About DLA Piper

DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, positioning us to help clients with their legal needs around the world. 

About TOKO

DLA Piper is working with TOKO to solve the inefficiencies of today’s capital markets by leveraging distributed ledger technology. TOKO is a digital asset creation engine that couples the compliance and regulatory rigor of a global law firm with the innovative technology solutions of tomorrow. TOKO provides a platform for creating new markets and uses distributed ledger technology to disseminate market information and provide transparency.


Rob Holmes, Senior Business Development, TOKO,