OKX Middle East Fintech FZE, the Dubai subsidiary of OKX, a cryptocurrency exchange and Web3 technology company, announced that it has received a Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA) for VA Exchange Services.
The license remains non-operational until the company fully satisfies all remaining conditions and select localisation requirements defined by VARA, following which it will be able to commence operations, subject to regulatory reverification and approval.
Once operational, the VASP license will allow OKX Middle East to extend its approved suite of duly regulated virtual assets activities and to provide spot services and spot-pairs, to institutional and qualified retail customers via the OKX App and OKX.com exchange.
OKX is dedicated to upholding robust investor and market safeguard principles. By trading on a regulated platform under VARA’s supervision in Dubai, users will enjoy enhanced levels of consumer protection.
Also published on Medium.
