UAE PM’s former tech advisor launches cryptocurrency exchange

  • Date: 24-Sep-2020
  • Source: Arabian Business
  • Sector:Financial Markets
  • Country:UAE
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UAE PM’s former tech advisor launches cryptocurrency exchange

The former technology advisor to the UAE Prime Minister's Office has launched the Gulf's first zero-fee cryptocurrency exchange.

Mohammad Raafi Hossain, CEO of Fasset, a provider of the world's first comprehensive ecosystem dedicated to merging digital asset innovations with the real economy, has announced plans to launch its second flagship product, the Fasset Exchange (FEX).

Immediately available to both retail and institutional investors within the countries of the Gulf Cooperation Council (GCC), the FEX will offer zero percent trading fees, compared to a market average of 4-5 percent on other regional exchanges, and sign-up rewards for new users.

Sign-ups for the FEX's private beta are available now, with the public launch scheduled for later this year and expansion to the rest of the MENASA region over the next two years.

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Hossain said: