Dubai, UAE – February 3, 2025 – WadzPay will no longer be pursuing a Broker-Dealer license under the Virtual Assets Regulatory Authority (VARA). The company had initially received in-principle approval from VARA in January 2024 as part of its exploration into the Broker-Dealer space.
Originally established as a technology company in 2018, WadzPay had considered expanding its business model but has since reinforced its focus on providing technology solutions for the payments and remittances sector.
WadzPay’s licensing status has been updated, and it no longer appears on VARA’s Public Register. The company extends its sincere appreciation to VARA and its licensing team for their efforts throughout the process and remains open to future engagements should the opportunity arise.
WadzPay remains committed to the region and will continue to support its partners and clients by focusing on payment and remittance solutions through collaborations with other licensed financial institutions and virtual asset service providers.