Dubai Grants Climate-based AYA Platform Conditional VARA License
Dubai’s financial regulator, the Virtual Asset Regulatory Authority (VARA) has issued a conditional operating license to AYA Platform, a web3 launchpad subsidiary of Enjinstarter.
In a recent press release, the company disclosed the regulatory nod obtained by VARA to operate as a virtual asset service provider although the license remains non-operational until the firm satisfies all obligations.
“(AYA) the Dubai entity of Enjinstarter, a leading Web3 launchpad and advisory company, today announced that it has been granted a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA) to provide Virtual Asset Management and Investment Services.”
AYA will focus as a pro-climate launchpad supporting breaking technologies around climate innovations acting as financial middlemen for certain green projects.
Playing a key role as a financing bridge, AYA seeks to connect institutional investors to web3 solutions dealing with climate-related fields such as carbon credits trading, reforestation, mangrove conservation, and sustainable agriculture.
The platform prioritizes climate goals in line with the country’s vision towards climate action already involved in several sustainable blockchain projects including onboarding efficient agricultural processes.
Carbon trading and other associated activities on-chain have received significant attention in the last week following the United Nations Climate Conference (COP28) and other attempts to address climate change.
Industry experts have rolled out several templates and solutions for reducing emissions while adding more functionality to the digital asset market. Carbon trading allows firms to trade carbon credits and monitor the effects of their
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