Amber International Holding Limited (NASDAQ: AMBR), operating as Amber Premium, announced that its Dubai subsidiary, Amber Premium FZE, has received an in‑principle approval (IPA) from the Virtual Assets Regulatory Authority (VARA) for a virtual asset service provider license. The IPA is the final stage before full authorization and confirms that the company has met VARA’s regulatory requirements for operating in the UAE’s growing digital‑asset market.
VARA’s licensing process requires an Approval to Incorporate (ATI) followed by a full Virtual Asset Service Provider (VASP) license application. The application demands extensive documentation, financial evidence, and adherence to VARA’s rulebooks. Amber Premium’s IPA indicates it has satisfied these prerequisites, positioning the firm to begin the final licensing steps in Dubai and to engage with local market participants.
In its most recent quarterly reporting, Amber International posted Q3 2025 revenue of $16.3 million and a gross profit of $11.8 million, translating into an operating profitability of +8% versus –4% in the prior quarter. The revenue decline from Q2 2025 ($21.0 million) reflects a shift in mix toward higher‑margin services, while the improved profitability results from disciplined cost management and operational leverage. For context, the company’s Q2 2025 gross profit margin was 71.3%, and its full‑year 2024 revenue was $32.8 million with a gross profit of $16.7 million, ending the year with a net loss of $24 million.
Amber’s expansion strategy is underpinned by a June 2025 private placement of $25.5 million, aimed at accelerating growth in the United States and Southeast Asia with a focus on crypto reserve strategy, asset tokenization, and AI‑AgentFi initiatives. The company also announced a $50 million share repurchase program, signaling confidence in its financial position. The VARA IPA now allows Amber to serve ultra‑high‑net‑worth and institutional clients in Dubai and the broader Gulf region, reinforcing its global footprint and aligning with its goal of delivering institutional‑grade digital‑asset services under robust regulatory frameworks.
CEO Michael Wu described the IPA as a milestone in Amber’s long‑term build, emphasizing a deliberate pace of growth coupled with strong governance. The approval underscores the company’s commitment to regulatory compliance, market integrity, and credibility with clients and partners in the region.
The in‑principle approval is a material regulatory milestone that expands Amber’s ability to operate in a regulated market, supports its strategy to deliver institutional‑grade digital asset services, and signals confidence in its financial and governance framework.
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