OKX became the first major licensed cryptocurrency exchange for retail and institutional investors in the UAE. UAE residents will have access to spot trading, conversion, express buy and sell, and On-Chain Earn products.
Users will be able to deposit and withdraw Dirhams (AED) from any local bank accounts and trade 280 cryptocurrencies and 480 trading pairs on OKX, including BTC/AED, ETH/AED and USDT/AED. In addition, qualified and institutional investors who meet the requirements will be able to trade derivatives, OKX clarifies.
To trade on OKX, UAE residents can visit website or download the OKX app for iOS or Android and complete identity verification. To celebrate the launch, OKX is giving away rewards of up to 100 AED to new users who download the app and register.
The opening took place at a gala evening at the Museum of the Future entitled A New Alternative for Dubai. The opening was attended by OKX founder and CEO Star Xu, exchange marketing director Haider Rafiq, Skybridge Capital founder and managing partner Anthony Scaramucci, Polygon co-founder Sandeep Nailwal and Stacks co-founder Muneeb Ali, as well as Pep Guardiola, head coach of the Manchester City football team. , sponsored by OKX.
“We are pleased to become the first international cryptocurrency exchange to receive a full license to provide services to retail and institutional clients in the UAE. To discuss the future of blockchain technology and its impact on business in the country and region, we invited leaders and visionaries from many fields. We are committed to growing locally and our products reflect this. Today’s achievement is just the beginning of a long journey,” said OKX Middle East CEO Rifad Mahasneh.
Let us recall that in January 2024, OKX’s Middle Eastern legal entity, OKX Middle East Fintech FZE, was licensed by the Virtual Assets Regulatory Authority (VARA) to provide virtual asset exchange, management, investment, lending and borrowing services. At the end of 2023, OKX also launched an exchange in Brazil, and in the first half of 2024 in Turkey, Australia and the Netherlands.
Source: Bits
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