OKX Secures Full Operational License in the UAE Establishes Headquarters and Introduces New Products to Penetrate the Middle East Market

OKX has obtained a full operational license in the UAE!
Cryptocurrency trading platform OKX announced today (10th) that it has become the world’s first cryptocurrency trading platform to obtain a full operational license in the UAE. Rifad, General Manager of OKX Middle East, stated that this represents a new stage of OKX’s business in the Middle East and reflects its high regard for the region’s future development.
The UAE is an important market in the global cryptocurrency field, especially in Dubai, where the local government has established the Virtual Assets Regulatory Authority (VARA) and is continuously committed to creating a safe, transparent, and innovative cryptocurrency ecosystem.
Dubai has attracted numerous blockchain companies to invest with its proactive policies and innovative spirit, and the government is vigorously promoting the development of financial technology, aiming to build a leading global digital economy. OKX’s acquisition of the VARA license is not only a key step in its expansion in the Middle Eastern market but also contributes to the development of the local cryptocurrency industry.
This also means that in the future, OKX will be able to legally provide a variety of services in the Middle East, including trading, asset management, and custody, to meet the growing demand for virtual assets in the market.
Rifad Ma has neh, CEO of OKX UAE, stated: “OKX is honored to be the world’s first cryptocurrency trading platform to obtain a full operational license in the UAE, which is not only a great achievement for us but also an affirmation of our commitment to compliance, transparency, and innovation.”
Rifad also emphasized that obtaining the license is only the first step in OKX’s long-term development in the Middle Eastern market. In the future, the company will make more investments in the region, from infrastructure to product innovation, to continue expanding its market influence.
“The UAE is a global hub with an undeniable strategic position. By launching a cryptocurrency platform in the UAE, we can better establish ourselves in the global market. We will continue to increase our investment to bring safer and more convenient cryptocurrency services.”
OKX CEO Xu Mingxing: Will continue to increase investment in Dubai, has established over 15 global offices
Xu Mingxing, CEO of OKX, expressed that as a commitment to Dubai, OKX plans to establish a regional headquarters in Dubai and will continue to invest and expand the team in Dubai, focusing on building and monitoring the effectiveness of compliance measures.
Currently, OKX is launching a comprehensive product portfolio tailored for the Dubai market, including AED fast purchase options, AED order books, USDC and USDT order books, and derivatives for institutional clients.
These products will serve both retail and institutional investors, providing a richer range of encryption services to the Dubai financial ecosystem.
In addition, Xu Mingxing further pointed out that OKX has established over 15 global offices worldwide and holds licenses in multiple countries and regions, including Dubai, the United States, the European Union, Singapore, Australia, and Japan.
What is the VARA license?
The Virtual Assets Regulatory Authority (VARA) in Dubai is an institution specifically responsible for regulating activities related to virtual assets, established in 2022, and is committed to creating a leading global environment for virtual asset economics.
VARA regulation includes cryptocurrency exchanges, asset management companies, virtual asset service providers, and is responsible for providing licenses and compliance management to these companies.
The VARA license is a business license that companies related to virtual assets must apply for, covering various services such as trading, custody, and transfers. The application process for this license is relatively strict, as it not only ensures that companies comply with anti-money laundering (AML) and countering the financing of terrorism (CFT) requirements but also safeguards the interests of investors and users.
For exchanges, obtaining a VARA license is not only quite difficult but also a major milestone.
With the VARA license, exchanges can legally provide services in Dubai and the relevant regions and comply with local laws and regulations.
Obtaining the license indicates that the exchange complies with strict compliance standards, especially regarding fund security and compliance management, thereby increasing the trust of market users.
In addition, Dubai is rapidly becoming one of the global centers for cryptocurrency assets, and obtaining a license allows exchanges to gain a foothold in this active market and increase the exchange’s competitiveness internationally, attracting global investors and users.