Cryptocurrency platform OKX (formerly known as OKEx) has received a provisional virtual-asset license from the Dubai authority. The exchange plans to set up a regional hub in the city, according to Bloomberg on Thursday.
“OKX is committed to building out both its team and necessary infrastructure in the UAE,” General Manager Lennix Lai said in a statement, adding that the market had a growing local crypto ecosystem and “a balanced regulatory framework.”
Per the report, the license enables the company to provide access to products and services to investors in the United Arab Emirates.
OKX provides stablecoins trading
Meanwhile, OKX also launched a new crypto pair trading service on Wednesday. The company said that new stablecoins trading pegged to fiat currencies include Tether (USDT), a stablecoin pegged to the U.S. dollar, EURT, a stablecoin pegged to the euro, and Tether Gold (XAUT), a digital token backed by physical gold go live on OKX Chain (OKC).
OKX Chain, a secure and...
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