PANews reported on December 17 that European digital asset platform Bitpanda has received preliminary approval from the Dubai Virtual Asset Regulatory Authority (VARA), paving the way for its expansion into the UAE market. Although key compliance requirements have been met, Bitpanda needs to meet additional conditions (such as setting up a local office and regional management team) to obtain a formal operating license.

Previously, Bitpanda has reached a cooperation with Societe Generale Forge to promote the mainstream adoption of the stablecoin EUR CoinVertible .