Okx Middle East receives MVP preparation license from Vara in Dubai
Okx Middle East receives MVP preparation license from Vara in Dubai
Dubai, United Arab Emirates, June 15, 2023, Chainwire
The VAE should act as a strategic global and regional business center, OKX is expanded to 30 employees
The second largest crypto exchange according to trading volume and a leading web3 technology company announced today that Okx Middle Eastech FZE (Okx Middle)) received a minimal VIABLE Product (MVP) preparatory license from the Dubai Virtual Assets Regulatory Authority (Vara)).
The United Arab Emirates are an important strategic growth and business hub for OKX worldwide and in the region, and the company plans to scale the activities of OKX Middle East. As part of these efforts, OKX has opened a new office in the Dubai World Trade Center and will try to increase the number of his employees in Dubai to 30, with the focus on local settings and managers. Okx also plans to extend its nine-digit brand partnerships with customer and fan-oriented activations and activities to the VAE.
The MVP preparation license enables approved licensekeepers to meet all the requirements that are required to carry out MVP operations within the Vara regime. As soon as the operating license has been granted, OKX MIDDLE EAST will be able to expand its approved spectrum of properly regulated activities in the area of virtual assets and to provide spot, derivative and fiat services, including USD and AED deposits, withdrawals and spot pairs, for institutional and qualified companies Retail customers.
Lennix Lai, Chief Commercial Officer from OKX Global said: "We are very happy about the preservation of the MVP preparation license from Vara. Regulated companies are the future of digital assets and capital markets, and Dubai and Vara have succeeded in creating a unique environment. The expansion to a new office this year focuses on the hiring of local employees and the leading management.
Tim Byun, Head of Government Relations At OKX Global, said: “Dubai and Vara are worldwide in cryptor regulation by creating the latest, most comprehensive and developed framework for virtual assets and web3. Legal regulations of OKX. Orientate.
Haider Rafique, Chief Marketing Officer from OKX, said: "We have waited for entry into the United Arab Emirates and want people here to experience our products first-hand. We are different-we are making moderately and transparent. With this commitment.
Further information on OKX can be found under okx.com .
about Okx
OKX is a worldwide leading technology company that designs the future of Web3. OKX is known as one of the fastest and most reliable crypto trading platforms for investors and professional dealers worldwide crypto exchange is the second largest worldwide according to trading volume and enjoys the trust of more than 50 million users.
One of the leading self-custody solutions from OKX is the web3 compatible okx-wallet Users enable better control over their assets and at the same time expanded access to Dexs, NFT marketplaces, Defi, Gamefi and thousands of Dapps.
OKX works with a number of world's best brands and athletes, including: the English Premier League master Manchester City FC, McLaren Formula 1, the Tribeca Festival, the golfers Ian Poulter, the Olympic Sympionics Scotty James and the Formula 1 driver Daniel Ricciardo.
OKX is committed to transparency and security and publishes this Evidence of the reserves monthly.
To learn more about OKX, download our app or visit : okx.com
on vara
Supervisory authority for virtual assets in Dubai [Vara] is the world's first specialized regulatory authority for the sector of virtual assets. Vara was founded in March 2022 after the entry into force of Law No. 4 of 2022 and is the responsible body that is responsible for the regulation, monitoring and monitoring of VAS and VA activities in all zones in the entire Emirat, including special development zones and free zones, without the Dubai International Financial Center.
VARA plays a central role in creating the advanced legal framework for the protection of investors and to determine international standards for the governance of the virtual asset industry and at the same time supports the vision of a unlimited economy.
This announcement only serves for information purposes. It is neither intended as investment, tax or legal advice, nor should it be viewed as an offer for purchase, sale or possession of digital assets. Digital assets, including stable coins, mount a high risk, can fluctuate strongly and even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in view of your financial situation. If you have any questions about your specific circumstances, please contact your legal/tax/investment experts.
Contact
Marc Rognon, [Email Protected]
Source: Coinlist.me