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The Dubai Virtual Asset Regulatory Authority (VARA) has granted OKX a provisional licence. It allows the company to offer certain exchange products and services to pre-qualified investors and financial service providers.
OKX will assemble its team to establish a regional centre in Dubai to help develop the virtual asset ecosystem in Dubai and around the world.
Lennix Lai, general manager of OKX Dubai said:
The MENA region is one of the fastest growing markets for our industry, and we are very excited to be at the heart of this thriving ecosystem.
OKX will contribute to the VARA regulatory ecosystem by fostering research and knowledge sharing.
Tim Byun, global government relations officer at OK Group, said:
We at OKX are thrilled to be participating in the sound compliance framework that Dubai’s VARA has established, and which reflects the UAE’s leadership as far as nurturing the global economy of the future.
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