Sun Oct 13 08:02:32 UTC 2024: ## OKX Launches Crypto Trading Platform in UAE, Targeting Both Retail and Institutional Investors

**Dubai, UAE -** Crypto exchange OKX has officially launched its trading platform in the United Arab Emirates, offering a wide range of services for both retail and institutional investors. This launch follows the company’s successful acquisition of a full operating license from the UAE’s Virtual Assets Regulatory Authority (VARA), marking a significant step forward in OKX’s global expansion.

The platform provides UAE residents with access to spot trading, express buy and sell options, conversion services, and on-chain earning products. Notably, qualified traders and institutional investors can also access derivatives trading, subject to stringent criteria. To qualify for derivatives trading, customers must pass a knowledge test and a suitability assessment, demonstrating a minimum liquid asset holding of AED 500,000 (approximately $136,000).

Rifad Mahasneh, OKX’s General Manager for the Middle East and North Africa (MENA) region, expressed the company’s optimistic outlook on the UAE’s potential as a crypto hub. He highlighted the supportive regulatory environment as a key factor, facilitating business operations and future investments. “We are extremely bullish on the UAE as a crypto hub and only see the sector growing in the next few years,” Mahasneh stated.

This launch comes nearly nine months after OKX initially received a conditional license from VARA. The platform now allows UAE investors to deposit and withdraw fiat dirhams through local banks and trade AED against various cryptocurrencies.

Beyond its expansion in the UAE, OKX has also secured a Major Payment Institution license in Singapore, appointing former regulator Gracie Lin as the CEO of its Singapore unit.

OKX’s user-friendly platform has gained significant traction, boasting a 4.9 average rating in mobile app reviews. Its commitment to transparency and robust security features, alongside its diverse range of trading services, have positioned it as a leading platform in the crypto landscape.

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