In the increasingly competitive crypto money sector, crypto exchanges also work to carry their activities beyond the borders in this environment.
FTX announced in a statement that it had been approved to conduct in Dubai as the Gulf Emirate moves forward with its plan to grow the digital asset industry.
FTX Approved To Serve In Dubai
Bahamas-based cryptocurrency exchange BTS has announced that the Dubai Virtual Assets Regulatory Authority (VARA) will begin offering regulated crypto derivatives products and trading services for institutional investors, as well as operate an NFT market and offer custody services.
Balsam Danhach, President of FTX Middle, said:
“Our license is also expanding to retail customers, but it will be a gradual scale to enable us to approach the retail market within the guidelines set by the industry regulator of Virtual Asset Regulatory Authority Dubai.”
As a reminder, crypto exchange OKX has also received a temporary virtual asset license in Dubai and has announced plans to establish a regional hub in the city that seeks to attract cryptocurrency companies from around the world.
Finally, FTX CEO Brett Harrison announced his new services for customers in a post on his personal Twitter account.