MaskEX Receives Highly Acclaimed Initial Approval From Dubai’s VARA
The Virtual Asset Regulatory Authority (VARA) of Dubai has given the next-generation cryptocurrency exchange MaskEX initial approval to start making plans to launch in the United Arab Emirates (UAE). The approval is a significant step for MaskEX, which has been working hard to increase its footprint in the Middle East and spread awareness of the advantages of virtual assets.
With the initial approval from VARA, MaskEX may now go on with corporate incorporation, engage banking services, recruit more employees in Dubai for its upcoming headquarters office, and take other required measures to become the first regulated exchange in the UAE. In order to gain VARA’s sought-after FMP license, MaskEX has filed for exchange, lending and borrowing, broker-dealer, as well as virtual asset management and investment services. With the help of this license, MaskEX will be able to continue operating in and out of Dubai while preserving its dedication to legal compliance, client safety, and innovation.
“We are extremely proud and grateful to have received initial approval from VARA, which is a testament to our commitment to meeting the highest regulatory standards,” said Eric Yang, CEO of MaskEX. “We believe that our platform will provide users in the UAE with a safe, reliable, and efficient way to access the world of virtual assets, and we look forward to launching as soon as possible, while strictly adhering to the requirements laid out by VARA.”
The introduction of MaskEX in the UAE is anticipated to have a positive impact on the regional economy, leading to the development of new employment and luring in international investment. The launch of MaskEX will be a significant step towards attaining these aims as the UAE assumes a leadership role in the region by prioritizing digital transformation and striving to become a pioneer in blockchain technology and virtual assets.
Both inexperienced and expert traders may easily traverse the cryptocurrency market using MaskEX’s user-friendly interface and cutting-edge trading tools. The exchange provides a broad variety of goods, such as savings packages, extremely liquid marketplaces across several trading pairings, and effective on- and off-ramp solutions that make it simple for customers to trade fiat currency for digital assets and vice versa.
“The initial approval from VARA is a major milestone for us, and is of great significance not just for the UAE but for the entire MENA region,” said Ben Caselin, Vice President and Chief Strategy Officer of MaskEX. “We look forward to working closely with the regulatory authorities to ensure that our platform meets all necessary requirements and provides a secure and transparent environment for our users.”
Read more: https://thenewscrypto.com/maskex-receives-highly-acclaimed-initial-approval-from-dubais-vara/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
