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Blockchain & Web3

Smart contracts, tokenisation and Web3 builds, plus licensing advisory for virtual asset businesses under VARA and other UAE regulators.

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Overview

Blockchain and Web3 services at Almahira cover two things: building the technology, such as smart contracts, tokenisation platforms, decentralised apps (dApps) and wallet integrations, and advising on the licence your project may need in the UAE. We are a technology and advisory firm. We do not provide virtual asset services ourselves.

Before you write any code, you need to know whether your plan is a regulated virtual asset activity. In Dubai, the Virtual Assets Regulatory Authority (VARA) regulates virtual assets everywhere except the DIFC, where the DFSA is responsible. In Abu Dhabi Global Market (ADGM), the FSRA regulates, and elsewhere in the UAE the Capital Market Authority (CMA, formerly SCA) is the federal regulator. The answer shapes your company structure, budget, banking and launch date.

We help you map your project against these rules, prepare licensing documents with your legal advisers, and build the product in parallel so the technology matches what the regulator expects. For any contract going into production, we recommend an independent security audit in addition to our own testing.

Important

Almahira provides technology development and licensing advisory. We do not offer virtual asset services ourselves. Virtual asset activities in Dubai require authorisation from VARA (or the relevant free-zone regulator).

Key facts

Dubai, outside the DIFC
VARA, under Dubai Law No. 4 of 2022, for the mainland and free zones
Financial free zones
DFSA in the DIFC; FSRA in ADGM
Rest of the UAE
Capital Market Authority (CMA), which announced a new Virtual Assets Framework in April 2026
VARA licensing
Approval to Incorporate first, then the VASP licence; no virtual asset activity before the licence
Payment tokens
Dirham payment tokens for any lawful payment; foreign payment tokens only to buy virtual assets (Central Bank rules)
Almahira's role
Technology and licensing preparation only; no exchange, custody or other virtual asset services

Who it's for

Web3 founders
You are launching a token, exchange, wallet or other virtual asset business and need to know which licence applies before you build.
Established companies
You want to use blockchain for supply-chain records, loyalty points, payments or asset tokenisation, connected to your existing systems.
Asset owners exploring tokenisation
You hold property, fund interests or other assets and want to understand the technology and regulation behind representing them as tokens.
Teams with existing contracts
You already have smart contracts or a dApp and need a code review, more testing or help preparing for an independent audit.

What's included

  • Virtual asset licensing support (VARA and ADGM FSRA)
  • Free zone company setup for blockchain businesses, such as in the DMCC Crypto Centre
  • Smart contract development and code audits
  • Preparation for independent security audits
  • Tokenisation technology for real-world and digital assets
  • dApp architecture and design
  • Web3 wallet integration
  • Regulatory compliance advisory
  • Post-launch monitoring and upgrades

What we'll ask you for

  • Passport copies of shareholders, directors and ultimate beneficial owners
  • CVs of founders and proposed key staff, including compliance roles
  • Source of funds and source of wealth information for shareholders
  • A business plan describing your activity, target markets and customers
  • Whitepaper or token model, if you plan to issue a token
  • Technical brief, code repositories and any previous audit reports (for development work)

How it works

  1. Discovery and scoping

    We map what you plan to build and who will use it, and identify whether any part of it is a regulated virtual asset activity and which regulator is likely to be responsible.

  2. Architecture

    We choose the network, custody model, contract design and wallet flows with you, and document them so developers, auditors and regulators can follow the design.

  3. Licensing preparation

    Where a licence is needed, we work with you and your legal advisers on the business plan, policies and application documents. The regulator decides whether and when to grant authorisation.

  4. Build and test

    We develop in short sprints, deploy to a test network, and run automated tests and internal code reviews before anything touches real assets.

  5. Audit and launch

    We recommend an independent audit for production contracts, fix any findings, then deploy to the main network once the required approvals are in place.

  6. Ongoing support

    After launch we monitor contracts and integrations, handle upgrades where the contract design allows them, and help you respond if something goes wrong.

Typical timeline

A proof of concept or a single smart contract can often be built in a few weeks; full platforms usually take several months. Licensing timelines depend on the regulator's review and how complete your application is, and are often measured in months rather than weeks.

Common questions

Do I need a VARA licence?

Generally yes, if you provide virtual asset services in or from Dubai, outside the DIFC. VARA licenses advisory, broker-dealer, custody, exchange, lending and borrowing, management and investment, and transfer and settlement services, plus some token issuance. Licensing runs in two stages: an Approval to Incorporate, then the VASP licence. Building software for others is not usually a licensed activity, but the line can be fine, so check your model with us and a legal adviser early.

Should I choose VARA, ADGM or the DIFC?

It depends on your activity, target customers, banking needs and where your team will be based. VARA covers mainland Dubai and its free zones except the DIFC. The DFSA regulates crypto tokens in the DIFC, the FSRA regulates virtual assets in ADGM, and the CMA covers the other emirates. Each has its own rulebook, capital requirements and costs. We compare the options for your model before you commit to a jurisdiction.

Does Almahira run an exchange or hold crypto for clients?

No. Almahira builds technology and advises on licensing. We do not operate an exchange, provide custody, hold client assets or offer any other virtual asset service ourselves. When your product goes live, your company is the business that needs to be licensed, and the regulatory responsibilities sit with you and your appointed compliance team.

Can you audit our smart contracts?

Partly. We review and test the contracts we build, and we can review existing code to find issues before launch, but for any contract that will hold real value in production, we recommend an independent audit by a firm that did not write the code. A fresh set of eyes catches different problems, and investors, exchanges and partners often ask to see a third-party report.

Can I set up a crypto company in the DMCC free zone?

Yes for many technology businesses, but a DMCC licence alone does not cover regulated virtual asset services. DMCC runs a dedicated Crypto Centre, and its standard crypto licence covers non-regulated activities such as software development and consultancy. If your company will exchange, hold, transfer or manage virtual assets for others, DMCC says you also need a VARA licence, applied for through DMCC.

Can we tokenise property or other assets?

Technically yes, but the legal side needs care. Depending on how a token is structured, it may fall under virtual asset rules or securities rules, and tokens linked to property must fit with how ownership is officially registered. The Dubai Land Department runs a real estate tokenisation pilot with VARA and the Central Bank. We build the technology and help you understand the regulatory questions, alongside legal advisers who can confirm the structure.

Will a bank open an account for a crypto business?

It can be harder than for other businesses. UAE banks apply their own risk policies, and many ask for detailed information on your licence, ownership, compliance programme and expected transactions. Having your regulatory approval, policies and source-of-funds documents ready helps, but the decision always rests with the bank and approval cannot be guaranteed.

Can my business accept stablecoins as payment in the UAE?

Only within limits. Under the Central Bank's Payment Token Services Regulation, licensed dirham payment tokens can be used for any lawful payment, while foreign-currency payment tokens can only be used to buy virtual assets. Algorithmic stablecoins and privacy tokens are prohibited. If your product will take crypto payments, build these rules and the licences they involve into the design from the start, with your legal adviser.

Guides on this topic

Last reviewed . Rules change often; we confirm current requirements during your consultation.

Sources

Tell us what you're planning

One short call is usually enough to recommend a jurisdiction, licence and visa route. A written quote follows.

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