Dubai’s FTX Exchange’s parent firm secures license to expand in Europe

Dubai’s FTX Exchange’s parent firm secures license to expand in Europe

The UAE News report: 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.”