Dubai based Shipfinex has secured in principle approval from Virtual Assets Regulatory Authority (VARA)for a virtual asset broker dealer licence, advancing its plan to bring regulated fractional ship ownership to market. The decision places the platform within Dubai’s evolving virtual asset framework and signals growing regulatory scrutiny of maritime tokenisation.
For shipowners, the development points to fresh avenues for capital raising in a market under pressure to improve liquidity and transparency.
Shipfinex FZCO has received In Principle Approval from Dubai’s Virtual Assets Regulatory Authority (VARA) for a Broker Dealer licence, clearing an important regulatory hurdle as it seeks to tokenise maritime assets. The approval confirms that the company has met the authority’s initial requirements on compliance, security and operational capability.
The platform uses Distributed Ledger Technology to convert vessels into Maritime Asset Tokens, allowing investors to hold fractional ownership rights in ships. The concept aims to widen access to an asset class traditionally dominated by banks, leasing houses and private equity.
“Securing this In-Principle Approval from VARA is a testament to our commitment to building a fully regulated, secure, and transparent ecosystem for shipping finance,” said Capt. Vikas Pandey, Founder and CEO of Shipfinex. “Dubai is rapidly becoming a global hub for virtual assets, and we are proud to align our operational standards with VARA’s progressive regulatory framework to protect our investors.”
For shipowners and managers, fractional structures could offer an alternative way to release capital tied up in tonnage while retaining operational control. In an environment of volatile freight rates and tightening lending conditions, new funding channels are under close examination.
“The maritime industry is one of the oldest and most vital pillars of the global economy, yet its financial structures have remained largely unchanged for decades,” said Mr. Vivek Seth, Chairman of Shipfinex. “This approval is a validation of our vision to integrate the reliability of traditional shipping with the efficiency of the digital economy.”
Mr. Dipak Karki, CFO of Shipfinex, said: “This is an evolutionary step for ship finance, impacting both debt and equity through technology. It allows the exchange to be an efficient, transparent platform for individuals and institutions to share economic ownership of a vessel, a model now validated by a world-class regulator.”
Shipfinex will now work to satisfy the remaining conditions required to obtain a full Virtual Asset Service Provider licence.
