The Dubai subsidiary of leading cryptocurrency exchange Binance, Binance FZE, has reportedly secured an operational minimum viable product (MVP) licence from the Virtual Asset Regulatory Authority (VARA) in Dubai. This development, officially announced on 31 July, permits Binance to offer cryptocurrency exchange and virtual asset broker-dealer services. However, these services are currently accessible only to institutional and qualified retail investors in Dubai who fulfil specific eligibility criteria. Qualified retail clients must be aged 21 or above and possess at least 500,000 United Arab Emirates dirhams ($136,000) in net liquid assets, and present valid identification and UAE residency documents.