OKX Middle East has officially obtained the Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA), allowing it to expand its range of approved regulated virtual asset activities.
(Prior summary:
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(Background supplement:
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This article is a sponsored post written and provided by OKX. It does not represent the views of Duanqu and is not investment advice, nor is it a recommendation to buy or sell. See the end of the article for the disclaimer.
Leading virtual asset exchange and Web3 technology company, OKX, announced today (16th) that its affiliated company in the Middle East, OKX Middle East, has officially been granted the Virtual Asset Service Provider (VASP) license by the Dubai Virtual Assets Regulatory Authority (VARA).
The license will take effect after OKX Middle East fulfills all the remaining conditions specified by VARA and meets specific localization requirements. Once operational, OKX Middle East will expand its range of approved regulated virtual asset activities under the review and approval of regulatory authorities.
After the launch of operations, the VASP license will allow OKX Middle East to provide spot trading services to institutions and qualified retail customers through the OKX app and the OKX Exchange official website (OKX.com).
OKX is committed to maintaining robust investor and market protection principles, and users trading on the OKX Middle East platform regulated by VARA in Dubai will enjoy a higher level of protection.
Rifad Mahasneh, General Manager of OKX Middle East and North Africa, stated:
“We are excited to receive the VASP license from VARA, which will enable us to expand our regulated virtual asset activities in the Middle East region. We are committed to providing a secure and compliant trading environment for our users.”
Tim Byun, Global Head of Government Relations at OKX, stated:
“We are proud to have OKX Middle East become a licensed VASP in Dubai. This is an important milestone for OKX as we continue to strengthen our presence in the Middle East and provide regulated virtual asset services to users in the region.”
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