OKX Launches First Fully Licensed Crypto Platform In UAE

Dubai, UAE – In a significant step forward for cryptocurrency trading in the Middle East, OKX has launched the first fully licensed crypto platform in the United Arab Emirates (UAE). This makes OKX the first global crypto exchange to offer AED (United Arab Emirates Dirham) banking rails for both retail and institutional investors, marking a pivotal moment for digital asset trading in the region.

The launch event took place at the Museum of the Future in Dubai. High-profile figures attended, including Pep Guardiola, manager of Manchester City, and OKX’s top executives. This event showcased OKX’s commitment to the UAE and the intersection of sports, technology, and finance.

OKX Expands Services With Full UAE License

OKX’s Middle East General Manager, Rifad Mahasneh, expressed excitement about this achievement. He stated, “We are thrilled to be the first global crypto exchange to launch with a full operating license for retail and institutional clients in the UAE.” This full operating license, granted by VARA (Virtual Assets Regulatory Authority), now allows OKX to provide a wide range of services. These include spot trading, derivatives, and direct AED deposits and withdrawals through local banks.

By integrating directly with UAE banks, OKX enhances the ease of crypto transactions in the region. Traders now have access to over 280 cryptocurrencies and 480 trading pairs, including BTC/AED, ETH/AED, and USDT/AED. These options simplify trading for UAE investors, providing unparalleled choice.

UAE Emerges As A Global Blockchain Hub

The UAE is positioning itself as a global hub for blockchain technology and cryptocurrency innovation. OKX’s expansion aligns with this goal by adhering to local regulations and offering seamless banking integration. This initiative strengthens the UAE’s reputation in the digital economy, making it a key player in the global blockchain space.

Boost To Crypto Adoption In The Middle East

The introduction of OKX’s platform marks a win not only for the exchange but for the broader cryptocurrency market in the Middle East. It promises greater liquidity, robust security, and an influx of both retail and institutional investors. This move is likely to accelerate the adoption of blockchain technology across various sectors, sparking further innovation in financial services.

As a result, OKX’s launch could serve as a blueprint for other exchanges aiming to expand while staying compliant with local regulations. By integrating with local financial systems, they can pave the way for mainstream cryptocurrency adoption, both regionally and globally.