With the development of the crypto market, crypto money exchanges are also working to expand their activities. Recently, Cryptocurrency exchange OKX has been granted a temporary virtual assets (VA) license in Dubai.
OKX to Expand Operations with Temporary License in Dubai
Cryptocurrency exchange OKX has licensed a temporary virtual asset in Dubai and plans to set up a regional hub in the city that seeks to attract cryptocurrency companies from around the world.
Issued by the Dubai Virtual Assets Regulatory Authority (VARA), OKX’s temporary license to Dubai allows it to expand certain exchange products and services to pre-qualified investors and financial service providers. In addition, OKX will establish a regional headquarters in Dubai to contribute to the development of the ever-expanding ecosystem of virtual assets, both in Dubai and globally.
Tim Byun, Global Government Relations Officer at OK Group, said:
Dubai is a pioneer when it comes to regulating the virtual assets sector and is fast becoming one of the top global hubs for the industry. At OKX, we are excited to join the robust compliance framework established by Dubai’s Virtual Assets Regulatory Authority, which reflects the UAE’s leadership in nurturing the global economy of the future.
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