OKX Receives VASP License in Dubai for Crypto Exchange Services

The license will enable the world's second-largest exchange to offer spot trading and fiat-related services to UAE residents.

OKX Middle East Fintech FZE, a subsidiary of the crypto exchange OKX, has received a virtual asset service provider (VASP) license in Dubai.
The license was granted by the Dubai Virtual Assets Regulatory Authority (VARA) and will become operational once certain conditions and localization requirements are met.
The VASP license will allow OKX Middle East to offer spot services and spot pairs to institutional and qualified retail customers.
Dubai is becoming a preferred destination for crypto firms, with Crypto.com, Hex Trust, and Nomura’s crypto arm Laser Digital also receiving VASP licenses from VARA in the past.
OKX is the world's second-largest exchange by volume and plans to offer services to UAE residents, including spot trading and fiat-related services, as well as local currency trading pairs.