Bitwise forecasts onchain vaults AUM doubling after surge from $0.1B in 2024 to $8.8B peak in 2025, with USDS and USDE leading onchain fixed and floating rate income.

According to @jp_mullin888, Dubai’s Virtual Assets Regulatory Authority (VARA) is advancing its first DeFi license suite, with compliant onchain staking, a launchpad, vaults and DEX trading described as “coming soon” (source: @jp_mullin888 on X, Nov 25, 2025). For traders, the update highlights concrete product categories to monitor under VARA oversight—staking, launchpad, vaults and DEX access—in the Dubai market as official launch details are released (source: @jp_mullin888 on X, Nov 25, 2025).