UAE residents can use OKX for spot and express trading, qualified traders can access derivatives.
The firm has recently obtained an MPI license in Singapore to offer cross-border transfer services.
Crypto exchange OKX has launched its trading platform for
retail and institutional investors in the United Arab Emirates. This follows
the company’s acquisition of a full operating license from the UAE's Virtual
Assets Regulatory Authority.
OKX Offers Derivatives Trading Access
UAE residents can now access various services on the OKX
platform after completing the required onboarding steps on its website or
application. Services available include spot trading, express buy and sell,
conversion, and on-chain earning products.
Qualified traders and institutional
investors may access derivatives trading, provided they meet specific criteria.
To qualify for derivatives trading, customers must pass a
knowledge test and a suitability assessment. They are also required to submit
documentation proving they have liquid assets of at least 500,000 dirhams,
approximately $136,000.
Rifad Mahasneh, OKX’s General Manager for the Middle East
and North Africa (MENA) region, stated that the company recognizes significant
potential in the UAE. He noted that the regulatory environment in the
jurisdiction facilitates business operations, enabling planning and investment
for the future.
“We are extremely bullish on the UAE as a crypto hub and
only see the sector growing in the next few years,” Mahasneh said.
Meanwhile, OKX
has expanded its operations in Singapore by obtaining a Major Payment
Institution license, as reported by Finance
Magnates. The exchange appointed Gracie Lin, a former regulator, as the CEO
of its Singapore unit. The MPI license was granted six months after receiving
in-principle approval.
KYC Policies for Institutions
For institutional clients, acceptance of OKX's
Know-Your-Customer (KYC) policies is mandatory, along with meeting two out of
three liquidity criteria: a minimum balance sheet of $20 million, an annual net
turnover of $40 million, or total funds of at least $2 million.
The launch comes nearly nine months after OKX received a
conditional license from VARA. The license was non-operational until OKX met
all regulatory requirements. The platform allows UAE crypto investors to
deposit and withdraw fiat dirhams through local banks and trade AED against
various cryptocurrencies.
Crypto exchange OKX has launched its trading platform for
retail and institutional investors in the United Arab Emirates. This follows
the company’s acquisition of a full operating license from the UAE's Virtual
Assets Regulatory Authority.
OKX Offers Derivatives Trading Access
UAE residents can now access various services on the OKX
platform after completing the required onboarding steps on its website or
application. Services available include spot trading, express buy and sell,
conversion, and on-chain earning products.
Qualified traders and institutional
investors may access derivatives trading, provided they meet specific criteria.
To qualify for derivatives trading, customers must pass a
knowledge test and a suitability assessment. They are also required to submit
documentation proving they have liquid assets of at least 500,000 dirhams,
approximately $136,000.
Rifad Mahasneh, OKX’s General Manager for the Middle East
and North Africa (MENA) region, stated that the company recognizes significant
potential in the UAE. He noted that the regulatory environment in the
jurisdiction facilitates business operations, enabling planning and investment
for the future.
“We are extremely bullish on the UAE as a crypto hub and
only see the sector growing in the next few years,” Mahasneh said.
Meanwhile, OKX
has expanded its operations in Singapore by obtaining a Major Payment
Institution license, as reported by Finance
Magnates. The exchange appointed Gracie Lin, a former regulator, as the CEO
of its Singapore unit. The MPI license was granted six months after receiving
in-principle approval.
KYC Policies for Institutions
For institutional clients, acceptance of OKX's
Know-Your-Customer (KYC) policies is mandatory, along with meeting two out of
three liquidity criteria: a minimum balance sheet of $20 million, an annual net
turnover of $40 million, or total funds of at least $2 million.
The launch comes nearly nine months after OKX received a
conditional license from VARA. The license was non-operational until OKX met
all regulatory requirements. The platform allows UAE crypto investors to
deposit and withdraw fiat dirhams through local banks and trade AED against
various cryptocurrencies.
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The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
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The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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Relive the best moments from the Finance Magnates Pacific Summit 2024 with our highlights video! ✨
From action-packed moments, insightful speaker sessions, the exclusive Opening Blitz, and immersive workshops, this video captures the energy and excitement of FMPS:24. Whether you attended or missed out, here’s your chance to experience the top moments that made FMPS:24 unforgettable.
🎬 Watch, share, and join the conversation!
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