VARA License Information
Regulatory Status
Shipfinex FZCO has received In-Principle Approval (IPA) from the Virtual Assets Regulatory Authority (VARA) to operate as a Virtual Asset Broker-Dealer in the Emirate of Dubai. The Company is currently operating under IPA conditions pending grant of the full operational license.
License Details
License Number | IPA/26/01/002 (In-Principle Approval — full operational licence pending) |
Licensed Entity | Shipfinex FZCO |
Registered Address | IFZA Business Park, Dubai Silicon Oasis, Dubai, UAE |
Licensed Activities | Virtual Asset Broker-Dealer Services |
Regulatory Authority | Virtual Assets Regulatory Authority (VARA), Dubai |
Responsible Individuals
The following individuals hold key responsible positions within Shipfinex:
Vikas Pandey — Chief Executive Officer
Suraz Kottakki — Chief Operating Officer
Ravi Shankar, FICS — Chief Commercial Officer
Kawal Arora — Chief Technology Officer
Dipak Karki — Interim Chief Financial Officer
Obada Mohammad Suliman Al’jjrah— Compliance Officer (CO) & Money Laundering Reporting Officer (MLRO)
Manish Kumar — Chief Information Security Officer & Data Protection Officer
Corporate Structure
ShipFinex operates through a multi-jurisdictional corporate structure. The VARA regulatory perimeter — and ShipFinex FZCO's IPA (IPA/26/01/002) — applies exclusively to ShipFinex FZCO (IFZA, Dubai, UAE).
ShipFinex Holding Limited (Abu Dhabi Global Market, ADGM) — Parent & ultimate holding company. Non-operating entity; provides strategic governance and capital oversight for the group. Does not provide client-facing services, does not hold client assets, and is not subject to VARA supervision.
ShipFinex FZCO (International Free Zone Authority, IFZA, Dubai, UAE) — VARA-regulated subsidiary and sole client-facing operating entity. Holds IPA/26/01/002 for Broker-Dealer Services. All client relationships, MAT transactions, and regulated activities are conducted exclusively through this entity. VARA's supervisory and enforcement jurisdiction applies to this entity.
SMAP LLC (St. Vincent and the Grenadines) — Overseas Issuance & Licensing Vehicle. Holds the regulatory licences and permissions under which Maritime Asset Token (MAT) SPV issuances are conducted, including registration under the SVG regulations. SMAP LLC serves as the overseas issuer entity in the ShipFinex platform architecture — MAT offerings are structured and issued under the licences and permissions held by this entity. SMAP LLC is not a client-facing entity for the purposes of VARA's regulatory perimeter, is not subject to VARA supervision, and does not hold client assets of VARA-regulated clients. Clients contract with ShipFinex FZCO as the VARA-regulated broker-dealer distributor.
Shipfinex LLC (Wyoming, USA) — North American market development entity. Does not provide regulated Virtual Asset services to clients, does not hold client assets, and is not subject to VARA supervision. No client-facing regulated activity is conducted through this entity.
Shipfinex Sp. z o.o. (Poland) — European market access entity. Registered as a Virtual Asset Service Provider (VASP) under the Polish Financial Supervision Authority (KNF). Does not hold client assets of VARA-regulated clients and is not subject to VARA supervision.
Regulatory Perimeter Note: Clients onboarding through the ShipFinex platform contract exclusively with ShipFinex FZCO. Client assets are held in individually assigned, self-custodied Fireblocks MPC wallets — not by any group entity. No group entity other than ShipFinex FZCO is authorised to provide broker-dealer services or accept client assets.
Regulatory Verification & Updates
You can verify Shipfinex’s regulatory status and In-Principle Approval status on the VARA public register. For immediate regulatory inquiries, contact: [email protected]
Contact Information
General Inquiries: [email protected]
Regulatory & Compliance: [email protected]
Address: Shipfinex FZCO, IFZA Business Park, Dubai Silicon Oasis, Dubai, UAE
Legal Disclaimer
This document provides information about Shipfinex’s regulatory status and organizational structure. It does not constitute financial advice, an offer, or a solicitation to invest. Investors should conduct their own due diligence and consult with qualified advisors before making investment decisions. Shipfinex operates under VARA regulation and maintains compliance with all applicable regulatory requirements.