Dubai-based FTX Exchange FZE’s parent company secures license to expand services in Europe

Dubai-based FTX Exchange FZE’s parent company secures license to expand services in Europe

Dubai, United Arad Emirates: FTX Exchange FZE, the first Virtual Asset Service Provider (VASP) to receive the MVP license to operate its Virtual Asset (VA) Exchange and Clearing House services in Dubai, announced its parent company, FTX Europe, has received approval from the Cyprus Securities and Exchange Commission (CySEC), to operate as a Cyprus Investment Firm (CIF) allowing the company to fully own the local investment firm it previously acquired.

Mohammad Hans Dastmaltchi, Chairman of the Board of FTX Exchange FZE says the approval is a big boost to FTX’s international growth plans, having recently launched its operations in Europe, and comes at a time when the Middle East division is set to commence operations soon. “This is an important milestone for FTX that will help consolidate the company’s position as a leader in the international crypto exchange market.”

Earlier this year, FTX received a provisional license from Dubai’s Virtual Asset Regulatory Authority (VARA) that will enable the company’s VA Exchange to deploy regulated crypto derivatives products, and trading services to Qualified Institutional Investors across the MENA region. In addition, the VARA MVP Licence also grants FTX permission to act as a Clearing House, operate an NFT Marketplace, and provide Custodial Services