BitGo Expands MENA Trading
BitGo MENA Launches Regulated Electronic Trading Services in MENA Region Under VARA
BitGo MENA FZE officially launched regulated electronic trading across the Middle East and North Africa on June 8, 2026, giving institutional clients a single platform to trade and hold digital assets under one regulatory roof. The launch combines over-the-counter (OTC) trading with electronic execution, both operating under a Broker-Dealer license from Dubai's Virtual Assets Regulatory Authority (VARA), according to Financial Post.
CEO Mike Belshe said the region has become "one of the most exciting" in the world for digital assets, adding that "the next phase of digital asset adoption will be built in markets with strong regulatory foundations and institutional ambition," according to Montreal Gazette. The move marks another step in BitGo's push to dominate institutional digital asset infrastructure in a market worth roughly $110 billion.
A Dual-Entity Model Keeps Assets Safe While Trading
BitGo splits its MENA operations between two separate licensed entities. BitGo MENA FZE handles trade execution. BitGo MENA Custody FZE holds the assets securely. This means a client's funds stay in regulated custody even as trades happen in real time. The structure mirrors how traditional banks separate trading desks from their custodian arms, according to Calgary Sun.
Assets held in BitGo's custody are insured for up to $250 million. BitGo also reportedly processes roughly 20% of all Bitcoin transactions by value globally. Managing Director of MENA Sales Nick Coombs said the launch "empowers us to offer institutional-grade trading services, seamlessly integrated with our VARA-regulated, and insured custody infrastructure."
VARA License Took Root in September 2025, Launched June 2026
BitGo MENA received its initial VARA Broker-Dealer license on September 17, 2025. Dubai publicly announced that approval on October 8, 2025. The full electronic trading platform went live June 8, 2026 — about nine months later. That timeline shows how long it takes to build compliant infrastructure in the region, according to Sault Star.
VARA was created in February 2022 under Dubai Law No. 4. It now licenses roughly 45 virtual asset service providers. Rather than classifying tokens, VARA focuses on the type of activity — trading, custody, exchange — a framework BitGo's General Manager Ben Choy has called "clear and forward-thinking." Choy previously worked at Singapore's Monetary Authority before joining BitGo MENA.
Institutions Drive Over 66% of MENA Crypto Volume
The MENA digital asset market is not retail-driven. Institutional and VIP clients accounted for more than 66% of total regional trading volume in 2025, according to IBS Intelligence. Even more striking: 93% of on-chain transactions in the region involve amounts of $10,000 or more, per Chainalysis data. That makes it a natural target for an institutional-focused firm like BitGo, according to Financial Post.
BitGo Holdings went public on the New York Stock Exchange on January 22, 2026, trading as $BTGO. It became the first public, federally chartered digital asset infrastructure company. For full-year 2025, the firm reported revenue of $16.15 billion and assets under custody topping $100 billion, though it posted a net loss of $14.7 million as it scaled up.
Rivals Are Moving Fast, but Regulation Stays Complex
BitGo is not alone in the race. Amber Group secured VARA's 45th license in April 2026, focused on wealth management. Animoca Brands got its VARA approval in February 2026, targeting Web3 and gaming institutions. Competition is intensifying, but analysts note BitGo's compliance-first approach may appeal to banks and sovereign wealth funds that need a regulated counterparty, according to Fort McMurray Today.
One real challenge remains: the UAE has three separate regulators. VARA covers Dubai. ADGM governs Abu Dhabi. The SCA operates at the federal level. Firms must navigate all three, which raises compliance costs. Still, Dubai's success in attracting a NYSE-listed U.S. firm like BitGo may push other global hubs — London and Hong Kong among them — to speed up their own digital asset licensing regimes.
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