OKX, a leading cryptocurrency exchange, has officially launched its licensed digital asset platform in the United Arab Emirates (UAE). This landmark move makes OKX the first global crypto exchange to receive full operational approval from UAE regulatory authorities. The platform now supports Dirham (AED) deposits and bank transfers, enabling both retail and institutional investors in the region to access a wide array of crypto services.
Rifad Mahasneh, CEO of OKX UAE, emphasized the company’s commitment to introducing robust and compliant crypto products tailored specifically for the UAE market. The launch includes features such as AED quick buy, AED order books, and support for major stablecoins like USDT and USDC.
Expansion Strategy and Regional Commitment
Hong Fang, CEO of OKX, expressed strong support for the UAE’s growing role in the global digital economy. As part of its long-term strategy, OKX plans to establish its regional headquarters in Dubai. This decision underscores the company’s intent to deepen its investment in the local market and expand its team within the region.
The establishment of a regional hub aligns with Dubai’s vision to become a leading hub for blockchain and virtual asset innovation. OKX aims to actively participate in and contribute to the development of the local crypto ecosystem while maintaining a strong focus on regulatory compliance and user protection.
Comprehensive Product Offerings in the UAE
The newly launched platform offers a suite of services designed to meet the needs of different types of investors. Retail users can benefit from simplified AED purchasing options and user-friendly trading interfaces. Institutional clients gain access to advanced trading tools, including derivatives products and dedicated order books.
This tailored approach ensures that both new and experienced users in the UAE can engage with digital assets through a secure, regulated environment. The inclusion of local currency support simplifies the onboarding process and reduces barriers to entry.
Global Presence and Regulatory Compliance
OKX operates over 15 offices worldwide and holds regulatory approvals or licenses in multiple jurisdictions, including the United States, the European Union, Singapore, Australia, and Japan. This global footprint supports its commitment to operating within legal frameworks and offering services that adhere to regional regulations.
The approval from UAE regulators represents a significant milestone in OKX’s ongoing effort to expand its services in regulated markets. It also reflects the company’s dedication to building trust and promoting the responsible adoption of digital assets.
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Frequently Asked Questions
What services does OKX offer in the UAE?
OKX provides a licensed crypto exchange platform supporting Dirham (AED) deposits, spot trading, derivatives for institutional users, and trading pairs with major stablecoins. The platform is designed to serve both individual and enterprise clients.
Why did OKX choose Dubai for its regional headquarters?
Dubai has established itself as a forward-thinking regulatory environment for digital assets. OKX’s decision to base its regional operations there highlights its commitment to contributing to the local crypto community and expanding within a growing market.
Is OKX available in other regions?
Yes, OKX operates globally with numerous international offices and holds licenses in several major markets, including Singapore, the US, and parts of Europe. Each regional platform complies with local regulations.
How does OKX ensure compliance and security?
OKX implements strict anti-money laundering (AML) and know-your-customer (KYC) procedures. The company works closely with regulators across different jurisdictions to maintain a secure trading environment.
Can users trade with AED on OKX?
Yes, users can deposit AED directly from their bank accounts and trade with AED-based pairs, as well as with popular cryptocurrencies like Bitcoin and Ethereum.
What makes OKX’s entry into the UAE significant?
OKX is the first global crypto exchange to receive a full operational license in the UAE. This sets a precedent for regulated crypto services in the region and enhances market accessibility and security for users.