OKX Middle East, the second-largest crypto exchange by trading volume and a leading Web3 technology company, has been granted a Minimal Viable Product Preparatory License from the Virtual Asset Regulation Authority (VARA) in Dubai, United Arab Emirates (UAE). This milestone enables OKX to establish itself as a strategic global and regional business hub and expand to 30 staff members in the Middle East.
OKX Middle East is set to be a key player in the country’s growing cryptocurrency and blockchain industry. The new license allows the company to provide exemplary trust and security for customers and the whole ecosystem, facilitate trade for retail and institutional traders, and become a leader in Digital Asset Management.
“We are thrilled to have been granted a comprehensive Preparatory License from VARA, which is a testament to our commitment to provide a secure, stable, and compliant crypto trading environment for our customers,” said Chris Lee, CEO of OKX. “We are looking forward to connecting the Middle Eastern market to our global ecosystem and working towards making Dubai a hub for Web 3.0 innovation.”