Cregis Custody FZE today announced that it has received In-Principle Approval (IPA) from Dubai's Virtual Assets Regulatory Authority (VARA) as part of its application for a Virtual Asset Service Provider (VASP) license.
The approval marks an important step in the development of Cregis Custody FZE’s planned custody offering. It supports the company’s continued evolution toward regulated digital asset services and strengthens its ability to expand its global capabilities.
Upon full approval, Cregis Custody FZE will provide regulated digital asset custody services to qualified clients, including secure asset safekeeping, account segregation, governance controls, transaction workflows and compliance monitoring.
"As digital asset markets mature and regulatory frameworks become clearer, we are seeing increasing demand from larger financial institutions and traditional businesses for more structured and compliant infrastructure," said Richard Meng, co-founder of Cregis and CEO of Cregis Custody FZE. "This trend is a key reason we decided to pursue regulated custody capabilities through VARA."
Cregis Custody FZE’s ambition is to operate as a trusted, regulated provider of institutional-grade digital asset custody under the Cregis Brand. The entity is focused on custody-related services, including secure asset safekeeping, account segregation and governance controls built to the institutional standards, while Cregis is a global brand providing digital asset infrastructure for collections, payouts and fund operations across global markets. As separate legal entities under common ownership, each provides distinct services to institutional clients.
Entities at this stage must complete all remaining regulatory requirements before receiving a full VASP license and are not permitted to conduct regulated virtual asset activities until full authorization is granted.
Following the IPA, Cregis Custody FZE will continue working closely with VARA to complete the remaining steps required for full licensing approval.
Cregis Custody FZE was established in 2025 as a separate entity under the Cregis brand. Founded in 2017, Cregis has evolved from helping enterprises build digital asset operations into a global digital asset infrastructure provider. The company serves clients across Asia-Pacific, the Middle East, Latin America and other key markets. Today, Cregis supports more than 4,000 businesses across over 50 countries, including financial institutions, payment service providers, trading firms, fintech companies and Web3 businesses.
"The Middle East, and Dubai in particular, has become a strategic hub for institutional digital asset activity," said Richard Meng. "Working toward regulated presence here allows us to better serve regional clients while aligning with the region’s growing role in global digital asset markets."
About Cregis Custody FZE
Cregis Custody FZE is an in principle approved entity (IPA) by VARA that will provide digital asset custody related services once fully approved by the regulator. It operates under the Cregis brand as a separate legal entity.
About Cregis
Cregis is a digital asset infrastructure platform, providing technology for digital asset collections, payouts and fund operations. Its solutions support businesses in managing digital asset workflows securely and efficiently across global markets. Founded in 2017, Cregis serves financial institutions, payment service providers (PSPs), trading firms, fintechs and Web3 businesses. The company operates across Asia, the Middle East and Latin America. Today, Cregis supports more than 4,000 businesses across over 50 countries.
Disclaimer
This article is for informational purposes only and does not constitute financial, investment, legal or regulatory advice. Cregis Custody FZE is currently in the licensing process under VARA and is not authorized to conduct regulated virtual asset activities. Product and service availability may vary by jurisdiction and remain subject to applicable laws and regulatory approvals.
關於Cregis
Cregis成立於2017年，總部位於香港，是一家面向企業的數字資產基礎設施平台。過去九年間，Cregis已服務全球50多個國家和地區的4,000餘家企業客戶，涵蓋加密交易所、金融科技公司、支付服務商、數字銀行、經紀商及Web3企業等機構。
圍繞企業數字資產運營需求，Cregis構建了覆蓋錢包基礎設施（WaaS）、資金流編排（Rails）及合規託管能力（Custody）的產品體系，幫助企業完成從資產存放與控制、資金流轉與運營，到治理與合規管理的完整閉環。
其中，核心產品 Wallet-as-a-Service 和 Payment Engine 已廣泛應用於企業級數字資產運營場景。隨著數字資產基礎設施需求持續全球化，Cregis始終專注於一件事：幫助企業以更強控制力、更低運營複雜度和更完善的合規能力使用數字資產。
