OKX Obtains a Derivatives VASP License in UAE

Reading Time: < 1 minute

OKX has successfully obtained its full Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA).

The announcement was made by OKX Middle East General Manager Rifad Mahasneh at a grand event held at the Museum of the Future, called “A New Alternative for Dubai.”

This achievement comes just eight months after OKX received initial approval in January 2024.

In an interview with Unlock Blockchain, Mahasneh discussed the swift progress, the launch of fiat and AED trading, and how OKX is set to transform the digital asset landscape in the UAE.

According to Mahasneh, “Obtaining the full VASP license in just eight months showcases the hard work of our team and the supportive regulatory environment in Dubai.”

This license allows OKX to offer more than just crypto-to-crypto trading – it also allows for fiat integrations with AED, which Mahasneh emphasized as crucial for the local market.