Global cryptocurrency firm OKX has announced its full operational launch and licensing in the UAE, becoming the first global crypto exchange in the region to offer AED banking services for both retail and institutional clients.
Rifad Mahasneh, General Manager of OKX Middle East, shared the news during a gala event at the Museum of the Future. The new exchange allows UAE residents to access a variety of services, including spot trading, conversions, express buying and selling, and on-chain earning products. Additionally, qualified institutional investors meeting specific criteria can access derivatives trading.
Virtual asset investors in the UAE can deposit and withdraw AED directly to and from the OKX platform via local bank accounts. OKX also offers the largest selection of cryptocurrencies and trading pairs in the UAE, with over 280 cryptocurrencies and 480 trading pairs, including BTC/AED, ETH/AED, and USDT/AED.
Mahasneh expressed excitement about being the first global crypto exchange to launch with a full operating licence for retail and institutional clients. He emphasised the event’s focus on discussing the promising future of the cryptocurrency sector in the region and its impact on various business sectors.
UAE residents can complete the verification process online or through the app to start trading. To incentivise new customers, OKX is offering up to AED 100 for trying the app.
In line with its commitment to security and risk management, the firm announced the appointment of Yuri Mushkin as Global Chief Risk Officer during the event. The gathering also featured notable speakers, including CEO Star Xu, CMO Haider Rafique, and Manchester City manager Pep Guardiola, highlighting the diverse expertise at the forefront of this venture.
