New Choice: OKX Announces Becoming the First Crypto Exchange to Receive Full UAE Operating License
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Qualified users and institutions in the UAE can participate in derivatives trading
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UAE residents can deposit and withdraw UAE Dirhams (AED) from all UAE bank accounts and trade over 280 currencies on the OKX platform.cryptocurrencyand 480 trading pairs
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The event was attended by OKX Founder and CEO Star Xu, OKX Middle East General Manager Rifad Mahasneh, Manchester City Men’s First Team Head Coach Pep Guardiola, Skybridge Capital Founder and Managing Partner Anthony Scaramucci, Polygon Co-founder Sandeep Nailwal, and Stacks Co-founder Muneeb Ali as speakers and panelists.
2024年10月10日，全球链上科技公司 OKX 今天宣布，已正式在阿联酋上线并获得运营牌照。这意味着，OKX 成为首家在阿联酋为散户和机构客户提供 AED 银行服务的全球cryptocurrencycompany.
OKX Middle East General Manager Rifad Mahasneh announced the news at the company’s grand event themed “New Choices for Dubai” held at the Museum of the Future. The event also invited OKX CEO Star Xu, CMO Haider Rafique, Manchester CityXiaobai NavigationMen's first-team head coach Pep Guardiola, Skybridge Capital founder and managing partner Anthony Scaramucci, Polygon co-founder Sandeep Nailwal, and Stacks co-founder Muneeb Ali served as guest speakers and panelists.
After completing the required login steps on the OKX app and website, UAE residents can now access a range of services including spot trading, exchange, quick buy/sell and on-chain yield products. In addition, eligible users and institutions that meet certain criteria will be able to trade derivatives.
Virtual asset users in the UAE can now deposit and withdraw AED directly on the OKX platform through local bank accounts. OKX offers a wide selection of cryptocurrencies and trading pairs in the UAE, covering more than 280 cryptocurrencies and more than 480 trading pairs, including BTC/AED, ETH/AED and USDT/AED, among others.
The OKX event brought together outstanding leaders and innovators from various industries to discuss how to useBlockchainTechnology is driving the future of change across every industry. Dubai was chosen as the venue for the event as it is at the forefront of this technological revolution and in line with its Vision 2033.
Rifad Mahasneh, General Manager of OKX Middle East and North Africa (MENA), said: “We are delighted to be the first global cryptocurrency exchange to receive a full operating license to serve both retail and institutional clients in the UAE.exchange"Tonight's event has brought together leaders and visionaries from across the spectrum to discuss the bright future of this sector in this country and region and its impact on the business industry. We are firmly committed to local development and our product development reflects this commitment. Tonight's celebration is just the beginning of our long journey."
UAE residents can accessOKX website, or download the OKX app through the App Store or Google Play and start trading after completing the verification process.
To celebrate the launch, OKX announced a reward of up to 100 AED for new users to encourage them to try out the new app. In the future, OKX will launch more apps for UAE users.Token, users can access the platformCheckLatestTokenAdditionally, the OKX website and app provide Arabic user support.
This event and the UAEexchangeThe launch of the 2023 OKX localization project is another important milestone in OKX’s commitment to localization.BrazilFirst Releaseexchange, and then successively entered in the first half of 2024Türkiye,AustraliaandNetherlandsmarket.
In order to strengthenSafetyIn line with its commitment to risk management, OKX also appointed Yuri Mushkin as Global Chief Risk Officer at the event. Mushkin has over two decades of experience in capital markets and risk management, covering both traditional and digital assets, and has held senior management positions at multinational companies such as Goldman Sachs and McKinsey & Co.
Last month, OKX SG announced that it had received theLarge Payment Institution License (MPI)In July this year, OKX designated Malta as itsMarketplace for Crypto-Assets (MiCA) Center, the platform will provide products and services to more than 450 million EU residents in the coming months.
OKX is one of the first crypto industry companies to publish monthlyProof of ReservesThe report will be published starting in late 2022 to verify the full solvency of customer funds on the platform. To date, OKX has published snapshots for 23 consecutive months, continuing to lead the industry in adopting the newly upgraded reporting standards.
For more information, visit okx.com
*To be considered a 'qualified' customer, users must complete a knowledge test, suitability assessment, and submit bank statements or other supporting documentation that demonstrates they have at least AED 500,000 in liquid cash and that these funds remain liquid for a reasonable period of time.
**To be considered an “institutional” client, users must pass additional KYC (Know Your Customer) requirements and demonstrate compliance with the following two conditions: (1) a minimum total balance sheet of US$20 million; (2) an annual net turnover of US$40 million; and (3) a total equity capital of at least US$2 million.
About OKX
OKX is a technology company whose mission is to organize the world'sBlockchain, making it more convenient, easy to use and practical. We are committed to creating a future that makes the world more efficient, transparent and connected. OKX started as a cryptocurrency exchange, providing trading opportunities to millions of people and over time became one of the largest trading platforms in the world. In recent years, we have developed the world's most widely connected on-chainwallet, helping millions of users access decentralized applications. Today, OKX is trusted by hundreds of large institutions, providing them with a reliable platform to enter the crypto market and seamlessly connect to global banks and payment systems. Our well-known products include: OKX Exchange, OKX Web3wallet, OKX Browser, OKX OS, OKX Ventures, and OKX Institutional Services. For more information about OKX, please download our app or visit: okx.com
About VARA
VARA was established in March 2022 and officially came into effect under Law No. 4 of 2022. VARA is the main body responsible for regulating, supervising and managing virtual assets (VA) and related activities, covering all areas of Dubai, including special development areas and free zones, but excluding the Dubai International Financial Center (DIFC). VARA plays a central role in developing Dubai's advanced legal framework, protecting investors and establishing international standards for the governance of the virtual asset industry, while supporting the vision of a borderless economy. For more information, visit [vara.ae](https://vara.ae).
Disclaimer
This announcement is for informational purposes only and does not constitute any investment, tax or legal advice, nor should it be considered an offer to buy, sell, hold or provide any services related to digital assets. Digital assets (including stablecoins) are highly risky, volatile in price and may become worthless. You should carefully consider your financial situation and risk tolerance to determine whether trading or holding digital assets is suitable for you. OKX does not make investment or asset recommendations, you are responsible for your own investment decisions and OKX is not responsible for any potential losses. Past performance is not indicative of future results. Not all products are available in all regions. Please consult your legal/tax/investment professional for questions in your specific situation. OKX Middle East Fintech FZE is licensed by the Virtual Asset Regulatory Authority (VARA) to provide virtual asset trading services, virtual asset management and investment services, and virtual asset lending services. OKX Middle East Fintech FZE operates under VASP reference number: VL/23/12/003.
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