Crypto lending platform Nexo announced on Tuesday that it has received preliminary approval from Dubai’s Virtual Asset Regulatory Authority (VARA), which means that the platform may operate locally as a licensed entity. It is reported that Nexo’s acquisition of a full license includes three stages: an initial temporary license, Preliminary licenses and operating licenses are currently being sought for its regional entity Nexo DTC to obtain full approval for lending and borrowing, management and investment, and broker-dealer operations. (CoinDesk)