OKX To Expand in UAE After Dubai Regulatory Approval
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OKX is the latest crypto exchange with plans to build out a foothold in Dubai after gaining regulatory approval to serve customers in the United Arab Emirates.
The Dubai Virtual Assets Regulatory Authority (VARA) granted OKX a provisional virtual assets license, the company revealed Thursday, allowing it to offer certain exchange products and services to pre-qualified investors and financial service providers in the region.
“Dubai and UAE leadership have embraced blockchain technologies and continue to invest heavily in the crypto ecosystem,” Lennix Lai, general manager OKX Dubai, told Blockworks in an email. “For OKX, it’s a natural partner jurisdiction and a long-term play, where we can attract high-quality talent and serve an engaged international crypto audience.”
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