Dubai’s first regulated crypto exchange targets institutional investors

Dubai’s first regulated crypto exchange targets institutional investors

Inayat-ur-Rahman, The Middle East and North Africa is among the fastest growing market in the world for crypto adopters, with users based in the region receiving a total of $566 billion over the past 12 months according to a recently published industry report. While the scenario paints an optimistic outlook for the crypto currency market with respect to crypto adoption from retail customers, one crypto exchange company that will begin its operations in Dubai very soon is focusing on institutional investors as part of its launch phase strategy. FTX Exchange, the Middle East division of global crypto exchange platform FTX, was the first Virtual Asset Service Provider (VASP) to receive the MVP license to operate its virtual asset (VA) exchange and clearing house services from Dubai’s Virtual Assets Regulatory Authority (VARA). FTX Exchange has this been given the go-ahead to deploy regulated crypto derivatives products, and trading services to qualified institutional investors across the MENA region. “This is part of our go-to market strategy in the region, working within the regulatory framework set up by VARA, and because FTX has a strong portfolio of institutional clients globally. We have a well-established reputation in the market amongst institutional investors as we