Source: Zawya
Dubai, UAE, Ctrl Alt, a company that converts physical assets to digital tokens, has obtained a Dubai Virtual Assets Regulatory Authority (VARA) license. The license makes Ctrl Alt the first company in Dubai with authorization as a VASP to provide issuer services:
The license allows Ctrl Alt to provide services in two areas, Broker-Dealer services, and Issuer services. The license will also allow Ctrl Alt to operate a fully regulated platform to create, manage, and share digital representations of real-world assets, such as real estate, based on a blockchain.
Ctrl Alt recently had a significant impact on the UAE, and more specifically the Dubai Land Department, on a project to turn real estate into digital tokens. Ctrl Alt built the entire system for migrating properties onto the blockchain effectively, and demonstrated the applicability of this type of service in real life.
Dubai is positioning itself as a world leader in the digital asset economy. With a clear regulatory environment for emerging technologies and an unwavering support for the digital economy, Dubai is seeing an influx of companies looking to set up headquarters or businesses in this innovative city. VARA, the Dubai government agency formed in 2022, is instrumental in establishing trust, governance and growing the digital economy. Ctrl Alt also wanted to be a part of the growth and potential the digital economy presents, so they relocated from Europe to Dubai in 2024.
“We are proud to receive our VARA license and establish fully regulated operations in the UAE,” said Matt Ong, Founder and CEO at Ctrl Alt. “This achievement reflects our commitment to long-term regulatory alignment as we power the infrastructure for the next generation of financial products.”
“Securing our VARA license marks a pivotal moment not just for Ctrl Alt, but for the broader digital asset ecosystem in the region,” said Robert Farquhar, Head of MENA at Ctrl Alt. “Dubai’s progressive regulatory environment provides a strong foundation for innovation in tokenization and we’re proud to contribute to that vision by delivering secure, compliant tokenization infrastructure for real-world asset issuance.”
About Ctrl Alt
Ctrl Alt is a global company that uses technology to turn real-world assets, such as property or funds, into safe and secure, digital tokens. As of May 2025 Ctrl Alt has tokenized over $295 million worth of assets. With offices in the UAE, UK and Ireland, their team includes very knowledgeable and experienced professionals from major companies like Morgan Stanley, Credit Suisse, UBS and Revolut. Ctrl Alt Solutions DMCC is a VARA licensed broker-dealer and issuer (license VL/25/05/002), located at Level 12, Uptown Tower, Dubai.
Note: Virtual assets have extreme risk and may completely lose value. Investors should be wary of everything and know that these assets are not covered by regular financial protections.
