Rifad Mahasneh, OKX MENA’s general manager, told Cointelegraph that the license will allow OKX Middle East to offer regulated VASP services.
Crypto exchange OKX’s Dubai subsidiary received a virtual asset service provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA) for exchange services.
While the company was awarded the license, OKX highlighted that it would remain “non-operational” until it could fulfill the regulator’s requirements. Rifad Mahasneh, OKX’s general manager for the Middle East and North Africa region, told Cointelegraph that the company is working to complete the requirements and expects the license to be operational in a few months.
Once operational, OKX Middle East will be allowed to offer regulated VASP services, including “spot and fiat trading services, AED deposits and withdrawals, and spot trading pairs.” Mahasneh explained that the services will be available to retail and institutional users.
