CFIX Virtual Assets Broker & Dealer Services L.L.C.S.O.C, the dedicated virtual assets entity of CFI Financial Group, has received In-Principle Approval (IPA) from Dubai’s Virtual Assets Regulatory Authority (VARA) for Broker-Dealer services, the company announced on November 9, 2026. The approval advances CFI’s expansion into virtual assets and positions the unit one step closer to obtaining a full Virtual Asset Service Provider (VASP) license.
- Entity: CFIX Virtual Assets Broker & Dealer Services L.L.C.S.O.C, Dubai
- Regulatory Milestone: In-Principle Approval for Broker-Dealer services from VARA
- Parent Company Footprint: 15 regulated entities across 25+ years in financial markets
- Recent Expansion: Regulatory authorization in Brazil, entry into Colombia and Bahrain
CFIX operates as a separate legal entity with dedicated governance, operational infrastructure, and independent management focused on building a credible virtual assets business. The unit reflects CFI Financial Group’s broader strategy of establishing regulated presences in new markets while building local capabilities for long-term growth. Over the coming months, CFIX will meet licensing conditions set by VARA, including finalizing leadership appointments, operational infrastructure, and regulatory controls. Virtual asset services will not commence until the full VASP license is granted.
The virtual asset industry has spent the past decade proving its technology. The next decade will be about proving its standards. The UAE is where much of that future is being shaped, and Dubai’s regulatory environment provides a strong foundation for the industry’s next phase. For CFI, CFIX is a natural extension of the financial ecosystem we are building, bringing our experience in regulated markets into a new and evolving sector. Receiving VARA’s In-Principle Approval is an important milestone, and reflects the progress made in establishing CFIX. Our focus now is on completing the remaining licensing requirements and building a business designed for the long term.
– Ziad Melhem, CEO of CFI Financial Group
CFI Financial Group operates across 15 regulated entities and has been active in financial markets for more than 25 years. The group’s recent expansion includes securing regulatory authorization in Brazil and launching operations in Colombia following its entry into Bahrain. The company is also strengthening its institutional foundations by appointing independent Board members and an independent Chairman.
Ziad Melhem, CEO of CFI Financial Group. Source: LinkedIn
