Binance’s crypto custody partner Ceffu Custody FZE, has received a full Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA) to offer custody services. As per the announcement, the approval allows Ceffu to deliver regulated institutional-grade crypto custody to clients within the UAE. Ceffu has received in-principle approval from VARA in May 2025.

The platform leverages multi-party computation (MPC), multi-approval schemes (MAS), and transaction approval policy (TAP) to ensure top-tier security.

Ceffu is the only institutional custody partner for Binance, providing secure digital asset storage and off-exchange settlement services for institutional clients. Through their partnership and solutions like MirrorX, institutions can trade on the Binance exchange using their assets held securely in Ceffu’s cold storage, minimizing counterparty risk. This allows institutions to access Binance’s liquidity while maintaining custody of their assets.

Ian Loh, CEO of Ceffu stated,“This full operating license from VARA reflects both the robustness of Dubai’s regulatory environment and Ceffu’s commitment to regulatory excellence. With the Middle East rapidly emerging as a global hub for cryptocurrency and blockchain, this license reinforces our ability to provide secure and compliant custody infrastructure for institutional clients.”

Ceffu Custody FZE also plans to expand its licensed activities in collaboration with VARA, tailoring solutions for asset managers, exchanges, and large-scale investors seeking regulated digital asset custody.