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Shipfinex has received preliminary approval from the Virtual Assets Regulatory Authority (VARA) in Dubai to obtain a Virtual Asset Broker-Dealer license, marking a significant step toward operating within a regulated environment that ensures transparency and compliance.

This development is a key milestone in the company’s strategy to enable fractional ship ownership through structured investment channels. The approval confirms that Shipfinex meets initial requirements related to compliance, security, and operational readiness under VARA’s regulatory framework.

Leveraging distributed ledger technology, the platform tokenizes maritime assets, allowing investors to own fractional shares of ships, thereby expanding access to an asset class traditionally reserved for institutions and large funds.

Vikas Bandi, Founder and CEO, emphasized that the preliminary approval underscores Shipfinex’s commitment to building a secure and organized maritime financing ecosystem. Board Chairman Vivek Seth highlighted that the move modernizes maritime financing by integrating traditional shipping reliability with digital economy efficiency. CFO Deepak Karki added that the technology enables innovative debt and equity structures, allowing individuals and institutions to share economic ownership of maritime assets within a regulated framework.

Shipfinex aims to complete the remaining requirements to obtain a full Virtual Asset Service Provider (VASP) license, offering a compliant and transparent environment for fractional ship ownership.