WadzPay’s Dubai entity receives Virtual Asset Service Provider (VASP) Licence from Dubai’s Virtual Assets Regulatory Authority

Issuance of licence is subject to meeting pre-operating requirements and qualifications for operational approval WadzPay’s Dubai Entity Receives VASP Licence from VARA DUBAI, United Arab Emirates, Feb. 28, 2024 (GLOBE NEWSWIRE) — WPME Technology, the Dubai-based entity of WadzPay, a leading fintech company specialising in blockchain based technology for virtual assets announced that it has […]

Issuance of licence is subject to meeting pre-operating requirements and qualifications for operational approval

WadzPay’s Dubai Entity Receives VASP Licence from VARA

WadzPay’s Dubai Entity Granted VASP Licence. Poised to Revolutionize Virtual Asset Transactions in Middle East.

DUBAI, United Arab Emirates, Feb. 28, 2024 (GLOBE NEWSWIRE) — WPME Technology, the Dubai-based entity of WadzPay, a leading fintech company specialising in blockchain based technology for virtual assets announced that it has been granted a Virtual Assets Service Provider (VASP) Licence for Virtual Asset Broker-Dealer service activities by Dubai’s Virtual Assets Regulatory Authority (VARA). The licence remains non-operational until the company fully satisfies all remaining conditions and select localisation requirements defined by VARA, following which it will be able to commence operations, subject to regulatory reverification and approval.

As one of the pioneers in blockchain based virtual assets technology, WadzPay is excited to deliver its innovative and industry-leading solutions to customers across Middle East while working closely with regulators in contributing to build a compliant and robust fintech ecosystem.

Mr. Anish Jain, Founder & CEO, WadzPay stated, “This licence showcases WadzPay’s dedication in promoting innovation in the field of virtual assets domain and blockchain technology bringing us a step closer to delivering world class solutions to businesses in Middle East.”

WadzPay aims to revolutionize the way people in the Middle East transact and manage virtual assets. WadzPay’s commitment to compliance ensures that financial institutions and their customers can confidently embrace the benefits of blockchain technology while adhering to regulatory standards, ultimately contributing to the growth and sustainability of the fintech ecosystem in the Middle East.

Mr. Ram Chari, Board Member and Group Director, WadzPay quoted, “This will further solidify WadzPay’s position as a trusted and reliable blockchain technology based financial service provider in the region. With the broker-dealer services, WadzPay will provide the technology to its clients to enhance the experience of their customers by enabling virtual assets transactions in a seamless and secure manner.”

To which Mr. Khaled Moharem, President – MENA & Europe at WadzPay, emphasized, “This cements our hard work and sets the stage for transformative blockchain solutions, promoting compliance and customer confidence in the Virtual Assets Industry.”

About WadzPay:

WadzPay was founded in 2018 in Singapore with a commitment to drive financial inclusion and revolutionise the virtual asset landscape. It is a leading global blockchain-based technology provider for virtual assets. The company’s innovative platform available as a SaaS offering provides secure, efficient, and transparent technology solutions, catering to businesses (B2B) and consumers (B2B2C). WadzPay works with large international companies, banks, and fintechs to enable virtual asset-based transaction processing, custody, and settlement. It operates across geographies spanning Asia Pacific, the Middle East, Africa, Europe, and the Americas.

For more information, visit www.wadzpay.com

About VARA:

Established in March 2022, following the effect of Law No.4 of 2022, VARA is the competent entity in charge of regulating, supervising, and overseeing VAs and VA Activities in all zones across the Emirate of Dubai, including Special Development Zones and Free Zones but excluding the Dubai International Financial Centre. VARA plays a central role in creating Dubai’s advanced legal framework to protect investors and establish international standards for Virtual Asset industry governance, while supporting the vision for a borderless economy.

For more information visit: www.vara.ae

For any media enquiries please contact:

Arijit Das

PR and Communications Manager

arijit.das@wadzpay.com

+91 9654930523

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/58f14eb8-1029-4e43-988c-02833036e716

GlobeNewswire Distribution ID 9053953

Members-elect of KP, Balochistan Assemblies take oath

Members-elect of Khyber Pakhtunkhwa Assembly took oath at the inaugural session in Peshawar today.

Speaker Mushtaq Ahmad Ghani administered the oath to them.

Earlier, the house offered fateha for the deceased election candidates and the martyrs of P…

Members-elect of Khyber Pakhtunkhwa Assembly took oath at the inaugural session in Peshawar today. Speaker Mushtaq Ahmad Ghani administered the oath to them. Earlier, the house offered fateha for the deceased election candidates and the martyrs of Police and security forces. A large number of guests were present in the provincial assembly to witness the inaugural session. Meanwhile, the candidates for new Speaker and Deputy Speaker who have submitted their nomination papers with the secretary provincial assembly will be able to withdraw their papers till 11 p.m tonight. Election for the Speaker and Deputy Speaker of Khyber Pakhtunkhwa Assembly will be held tomorrow. Members-elect of newly elected Balochistan Assembly took oath at inaugural session of assembly in Quetta today. Zamrak Khan Achakzai who presided over the session in the absence of Speakr Jan Muhammad Jamali administered the oath to newly elected members. He announced that elections for Speaker and Deputy Speaker will be held tomorrow. Th e House has been adjourned to meet again tomorrow at 11:00 a.m. Source: Radio Pakistan

Students spend day with Pakistan Army in Mir Ali

In Mir Ali, Tehsil of North Waziristan, students spent a day with Pakistan Army.

The purpose of this day was to provide awareness to the students of North Waziristan about the daily activities of Pakistan Army, information about modern equipment and …

In Mir Ali, Tehsil of North Waziristan, students spent a day with Pakistan Army. The purpose of this day was to provide awareness to the students of North Waziristan about the daily activities of Pakistan Army, information about modern equipment and sacrifices made for peace. The students were delighted to see the military equipment and expressed their intention to join the Pakistan Army. Various games were also organized for the entertainment of the students. On this occasion, the students expressed their gratitude to the Pakistan Army and expressed their desire to spend more such memorable days with Pakistan Army in the future as well. Source: Radio Pakistan

Security forces kill 6 terrorists in North Waziristan IBO

Six terrorists were killed during an intelligence based operation in North Waziristan today.

According to ISPR, security forces conducted an intelligence based operation in North Waziristan on reported presence of terrorists.

During the conduct of o…

Six terrorists were killed during an intelligence based operation in North Waziristan today. According to ISPR, security forces conducted an intelligence based operation in North Waziristan on reported presence of terrorists. During the conduct of operation, intense fire exchange took place between own troops and the terrorists, as a result of which six terrorists were sent to hell, while one soldier also got injured. Weapons, ammunition and explosives were also recovered from the killed terrorists, who remained actively involved in numerous terrorist activities including target killing as well as extortion and abduction of innocent civilians. Sanitization operation is being conducted to eliminate any other terrorist found in the area. Locals of the area appreciated the operation and expressed their full support to eliminate the menace of terrorism. Source: Radio Pakistan

Punjab CM directs to clean garbage in entire province within month

Punjab Chief Minister Maryam Nawaz has directed to clean garbage in entire province within a month.

Chairing a meeting to review progress on ‘Suthra Punjab Program’ in Lahore today, she issued instructions to district administration and related insti…

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PML-N nominates Shehbaz Sharif for slot of PM

PML-N Quaid Nawaz Sharif has formally nominated Shehbaz Sharif as candidate for the office of the Prime Minister of Pakistan.

He made this announcement while speaking at Parliamentary Party’ meeting of Pakistan Muslim League-Nawaz at the Parliament H…

PML-N Quaid Nawaz Sharif has formally nominated Shehbaz Sharif as candidate for the office of the Prime Minister of Pakistan. He made this announcement while speaking at Parliamentary Party' meeting of Pakistan Muslim League-Nawaz at the Parliament House in Islamabad today. Nawaz Sharif also nominated Sardar Ayaz Saqiq as PML-N candidate for Speaker of National Assembly. On the occasion, he also welcomed independently elected lawmakers for joining the PML-N. Besides, Nawaz Sharif congratulated women and minority parliamentarians for their elections. On this occasion, PML-N President and former Prime Minister Shehbaz Sharif also expressed gratitude to the independent candidates for joining the PML-N. Highlighting achievements of PML-N governments in the past, he said several mega projects, including construction of motorways, highways and power plants are the hallmark of his party's service to the nation. The Parliamentary Party of the PML-N also approved a resolution tabled by Shahbaz Sharif to bring th e country out of crises under the dynamic leadership of Mian Nawaz Sharif. Source: Radio Pakistan

Protecting lives, properties of masses Govt’s top priority: Murad

Newly elected Sindh Chief Minister Syed Murad Ali Shah says protecting lives and properties of people is top most priority of his government.

Chairing a meeting on law and order after taking charge of the office in Karachi today, he expressed determi…

Newly elected Sindh Chief Minister Syed Murad Ali Shah says protecting lives and properties of people is top most priority of his government. Chairing a meeting on law and order after taking charge of the office in Karachi today, he expressed determination to eliminate bandits from the riverine areas of Sukkur and Larkana districts. He said that a joint operation against dacoits will be launched in cooperation with Punjab and Balochistan governments. Murad Ali Shah made it clear that he is not satisfied with the street crime situation in the province and directed officials concerned to take strict action and improve law and order. The Chief Minister also directed to make the province drug free. Source: Radio Pakistan

Ashrafi urges Hajj pilgrims to follow codal formalities of Saudi Arabia in letter and spirit

Pakistan Ulema Council Chairman Hafiz Muhammad Tahir Mehmood Ashrafi has urged the intending Hajj pilgrims to follow the codal formalities of Saudi Arabia in letter and spirit during the sacred journey.

Talking to the media, he emphasized the Two Hol…

Pakistan Ulema Council Chairman Hafiz Muhammad Tahir Mehmood Ashrafi has urged the intending Hajj pilgrims to follow the codal formalities of Saudi Arabia in letter and spirit during the sacred journey. Talking to the media, he emphasized the Two Holy Mosques are the places of worship and not arenas for political expression or displays of nationalism. He warned that raising slogans, flags or engaging in any other irrelevant activity is not allowed at the Two Holy Mosques and guarding their sanctity is obligatory upon Muslims. Source: Radio Pakistan