Popular cryptocurrency exchange OKX announced that it has received the necessary license to operate in Dubai.
Dubai Virtual Asset Regulatory Authority (VARA) is the Dubai branch of OKX. OKX Middle East Fintech FZE It granted the necessary license to serve as a virtual asset service provider (VASP). OKX Tuesday, January 16 In his statement on Friday, he said that the services within the scope of the license will be completed within the next few weeks. will be put into full operational use told.
According to the statement, the company then provides stock market services, broker-dealer services, management and investment services, borrowing and lending services, as legally regulated. Cryptocurrency buying and selling services over fiat currencies will be able to offer.
Exchange within the scope of license, AED/BTC, AED/ETH will make trading pairs available to local users. In addition, it will be able to provide various spot services and spot pairs to institutional and qualified individual investors.
OKX Middle East Region General Manager Rifad Mahasneh In his statement on the subject, he pointed out that this step would strengthen their dominance in the region:
This enables us to offer services to UAE residents, including spot trading and fiat-related services, meaning deposits and withdrawals of the local currency, the United Arab Emirates dirham (AED). In addition, we will offer local currency trading pairs, namely AED/BTC, AED/ETH and others, which will be a new breakthrough.