Dubai's VARA issues the UAE's first ARVA token issuer license to Ctrl Alt

Ctrl Alt, a tokenization infrastructure platform, reported that it has secured a virtual asset broker-dealer license and issuer license from Dubai’s Virtual Assets Regulatory Authority (VARA). As of May 1, 2025, Ctrl Alt had tokenized over $295 million in assets, spanning real estate, private credit, funds, litigation finance and more.

As per the press release, Ctrl Alt is the first VASP authorized to conduct issuer-related services. The approval means Ctrl Alt has consolidated its global footprint while operating within robust regulatory frameworks.

The virtual asset issuer license allows Ctrl Alt to operate a full-stack, regulatory-compliant platform for the creation, management and distribution of tokenized real-world assets and ARVA (asset-referenced virtual assets) tokens.

Ctrl Alt’s ARVA license is a new VARA Dubai category 

ARVA is a new legal category created for tokens backed by real-world value: real estate, commodities, and income streams developed by VARA Dubai. It involves a regulatory framework that brings investor protection, legal clarity, and operational structure to this space.

Some of its key features include direct and fee-free redemption, real reserves held with licensed custodians, and legal segregation. Audits are mandatory, independent, and recurring. The word “stablecoin” is now protected, only usable by approved ARVAs with specific RWA backing.

In short, ARVA tokens are defined under Dubai law as representing direct or indirect ownership of real-world assets, granting entitlement to receive or share income, and purporting to maintain a stable value by reference to real-world assets or income. ARVA tokens are backed or collateralized by such real-world assets or constitute a derivative, wrapped, duplicated, or fractionalized version of another ARVA.

“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.”

After the recent launch of Prypco Mint, the first licensed real estate tokenization platform, in partnership with Dubai Land Department, Dubai’s regulatory authority VARA, and powered by Ctrl Alt blockchain, the region’s first property token ownership certificate was issued and the first property was fully funded attracting more than 224 investors across 40 nationalities with an average investment amount of $2,700.

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