AYA platform of Enjinstarter granted Virtual Asset Service Provider licence by Dubai’s Virtual Assets Regulatory Authority

AYA platform of Enjinstarter granted Virtual Asset Service Provider licence by Dubai’s Virtual Assets Regulatory Authority

- The Licence will enable Enjinstarter to begin operating AYA, its climate-focused launchpad.

Dubai, United Arab Emirates —Web 3 Innovations FZE (trading as 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) licence from Dubai’s Virtual Assets Regulatory Authority (VARA) to provide Virtual Asset Management and Investment Services. The licence remains non-operational until the company fully satisfies all remaining conditions and select localisation requirements defined by VARA, following which it will be able to commence operations, subject to regulatory reverification and approval.

“This is a great day for AYA and a huge milestone for us. The VASP licence process demonstrates our compliance with the VARA process as we leverage Web3 to help bridge the climate financing gap,” said Prakash Somosundram, co-founder and CEO of Enjinstarter and AYA Foundation. “We are thankful to VARA for taking a collaborative approach towards understanding our business and working closely with us throughout the application process. We are now poised to leverage the licence approval and accelerate operational set-up to deliver impact as soon as we conclude the outstanding regulatory pre-requisites.”

Enjinstarter will soon commence operationalising its climate-focused launchpad, AYA, which