DEX Secures Regulatory Approval in the Abu Dhabi Global Market from the FSRAby Company Announcement 5. July 2020
DEX, a global digital assets marketplace headquartered in Abu Dhabi, has secured a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM) in the United Arab Emirates (UAE).
The FSP authorizes DEX to operate a regulated Multilateral Trading Facility (MTF) and custody platform using Virtual Assets that will serve retail/accredited investors, trading firms and institutions worldwide. The platform will allow the buying and selling of virtual assets with all major international currencies as well as local currencies in the respective UAE/GCC markets.
DEX aspires to be a leading regulated digital asset exchange which will ultimately, and subject to further regulatory approval, cover additional assets classes such as digital securities, fiat tokens, options and derivatives in addition to its current approval as a virtual asset MTF.
DEX’s blockchain strategy in 2021 has placed the jurisdiction at the forefront of global innovation, particularly in financial services. Having spent the last 12 months working towards full regulatory approval, DEX is now gearing up for the public launch of its trading and custody platform in Q3 2020.
DEX CEO Leon Smith said:
“At DEX, our goal is to provide investors with a digital assets platform that delivers a best-in-class, fully regulated trading experience. For us, that means ensuring confidence through robust regulation, transparency and security.
Obtaining this FSP as an MTF and custodian using virtual assets is a major milestone in our journey to provide a secure, regulated and transparent platform covering a broad array of digital assets to our clientele.”