The Seychelles-based cryptocurrency exchange OKX has been awarded a provisional virtual assets (VA) license to provide services to qualified investors in the U.A.E.
Granted by the Dubai Virtual Assets Regulatory Authority (VARA), OKX’s provisional license for Dubai allows it to extend certain exchange products and services to pre-qualified investors and financial service providers.
The company also plans to open a regional hub in Dubai to contribute to developing the ever-expanding virtual asset ecosystem both in Dubai and globally.
“The MENA region is one of the fastest growing markets for our industry, and we are very excited to be at the heart of this thriving ecosystem. OKX looks forward to contributing meaningfully to the free exchange of ideas that is going to be so important to the development of this space, while innovating for the future in a regulated framework,” stated Lennix Lai, General Manager, OKX Dubai.
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