# CFIX Receives In-Principle VARA Approval for Broker-Dealer Services By Riza Dagoc Canonical URL: https://www.tokenpost.com/news/regulation/52736 Published: 2026-11-10T02:09:56.000Z Updated: 2026-11-10T02:09:56.000Z Section: Regulation > The Sept. 29 approval lists broker-dealer services as the Dubai unit’s only activity. CFIX needs a full license before it can offer virtual-asset services. CFIX VA Broker and Dealer Services LLC S.O.C. (CFIX), CFI Financial Group’s Dubai unit, received in-principle approval from Dubai’s Virtual Assets Regulatory Authority (VARA) for broker-dealer services, advancing its virtual-asset plans. CFI announced the approval on Nov. 9. The in-principle approval is dated Sept. 29 and lists Broker-Dealer Services as CFIX’s sole activity. A full virtual asset service provider (VASP) license is still required before the unit can begin virtual-asset services. CFI said its licensed entities recorded $3.45 trillion in notional trading volume in the third quarter of 2026, up about 123% year over year and 14% from the previous quarter. The figure covers the group’s licensed entities, with no separate CFIX or crypto-trading breakdown. The Dubai approval follows a similar step by Payward, Kraken’s parent, which earlier received in-principle approval and has since received [full VARA approval in Dubai](). CFIX must complete leadership appointments and put operational infrastructure, governance arrangements and regulatory controls in place. CFI Financial Group CEO Ziad Melhem said, “Our focus now is on completing the remaining licensing requirements and building a business designed for the long term.” ## Links in this article - [full VARA approval in Dubai](https://www.tokenpost.com/news/regulation/30125)