OKX Breaks New Ground: First VARA-Licensed Crypto Exchange in Dubai
- OKX is now the first global crypto exchange licensed to serve both retail and institutional clients in the UAE.
- The platform offers over 280 cryptocurrencies and 480 trading pairs, including AED banking rails.
- The Dubai launch aligns with the UAEs growing role as a virtual asset hub.
OKX has officially launched its VARA-licensed crypto exchange in Dubai, making it the first global exchange licensed to serve both retail and institutional clients in the UAE. The exchange boasts an impressive selection of over 280 cryptocurrencies and 480 trading pairs, providing customers with a wide range of options.
The platform also boasts AED banking rails, enabling its users to deposit and withdraw money through local banks with ease and further improving customer experience. OKX celebrated this milestone in a gala event at the Museum of the Future. Top executives like CEO Star Xu and prominent figures such as Manchester City manager Pep Guardiola discussed the future of blockchain and its applications across industries.
The press statement reads:
Our vision is that as the blockchain ecosystem continues to evolve, it will eventually create a new alternative application economy where builders will create a safer, more secure and transparent internet. Industry players like us have a role to play in this evolution, as do leading talent centers like the UAE.
A Hub for Blockchain Innovation
Dubai positioned itself as a leading regulator, attracting both blockchain and crypto companies to its shores. The commitment by the UAE government to foster technological innovation, together with a strategic location, was the main catalyst for OKXs expansion into the region.
Designed for the UAE market, it has everything from spot trading to express buying and selling, and on-chain product earnings. OKX will go live with three major AED trading pairs: BTC/AED, ETH/AED, and USDT/AED. That further makes Dubai a central hub for this technology in the region, as it invites global talent and crypto investors.
OKXs Vision for the Future
OKXs expansion in Dubai underlines its commitment to forging the future of blockchain. Advanced trading tools together with an assurance of compliance with all local and international measures are two elements that can be critical in helping the company create a strong base in the UAE.
OKX now looks forward to its deeper investment in the region with the VARA license, meaning more innovation and services would be brought to such a wide category of investors, including retail and institutional investors. Moreover, platform support for Arabic caters to the diverse and fast-growing crypto community in the UAE.
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Text source: TronWeekly
