Dubai, UAE — OKX Middle East Fintech FZE, the Dubai-based subsidiary of global crypto exchange OKX, has been granted a Virtual Asset Service Provider (VASP) license by Dubai’s Virtual Assets Regulatory Authority (VARA). This milestone allows OKX to offer regulated virtual asset exchange services in Dubai, pending operational approval.
Key Details of the VASP License
- License Status: Non-operational until OKX fulfills VARA’s localization requirements and regulatory conditions.
- Services Offered: Spot trading and spot-pairs for institutional and qualified retail users via the OKX platform.
- Regulatory Safeguards: Enhances consumer protection under VARA’s oversight.
👉 Explore OKX’s regulated services in Dubai
Executive Insights
Rifad Mahasneh, OKX MENA General Manager:
"Dubai and VARA have created a pioneering ecosystem for virtual asset growth. We’re committed to advancing Web3 excellence across the MENA region."
Tim Byun, OKX Global Head of Government Relations:
"This license reflects Dubai’s leadership in crypto regulation, aligning with OKX’s vision for a trustless financial future."
Frequently Asked Questions (FAQs)
1. What does the VASP license allow OKX to do in Dubai?
The license permits OKX to operate as a regulated virtual asset exchange, offering spot trading services after meeting VARA’s operational conditions.
2. When will OKX Middle East become operational?
OKX can commence services only after fulfilling VARA’s localization requirements and securing final regulatory approval.
3. How does VARA’s oversight benefit users?
Trading on a VARA-regulated platform ensures enhanced consumer protections and market integrity.
👉 Learn more about OKX’s compliance standards
Core Keywords
- VASP license
- Dubai VARA
- OKX Middle East
- Virtual asset regulation
- Crypto exchange Dubai
- Web3 ecosystem
Disclaimer: This article is for informational purposes only and does not constitute financial or legal advice. Digital asset investments carry risks; consult a professional before trading. © 2025 OKX. Licensed for non-commercial redistribution with attribution.
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