Dubai's VARA and Mastercard sign MoU to explore regulatory sandboxes for virtual assets startups
The MoU was announced during Dubai Future Finance Week.
Dubai’s Virtual Assets Regulatory Authority (VARA) and Mastercard have signed a Memorandum of Understanding (MoU) to explore regulatory sandboxes, support startups and advance emerging technologies in Dubai’s virtual assets ecosystem.
The MoU was announced during Dubai Future Finance Week.
The collaboration will explore initiatives enabling founders and emerging businesses to experiment with new technologies through regulatory sandboxes.
The agreement also covers industry engagement, knowledge sharing and support for virtual assets market participants.
Mastercard brings experience in payments technology, digital assets and stablecoin infrastructure, including its recently announced acquisition of BVNK.
VARA CEO Matthew White said: “Collaboration between regulators and global industry leaders is essential to building an ecosystem where innovation can flourish alongside strong regulatory standards.”
Gina Petersen-Skyrme, Senior Vice President and Country Manager, UAE and Oman, at Mastercard, added: “Realizing that potential requires clear regulatory frameworks, trusted infrastructure and close collaboration across the ecosystem.”
The agreement aligns with the Dubai Economic Agenda (D33), which identifies innovation and digital transformation as priorities for the emirate’s long-term economic development.
