The FTX FZE Exchange has received approval from the Virtual Assets Regulatory Authority

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    FTX FZE yesterday confirmed that the company has received approval from the Virtual Asset Regulatory Authority (VARA) in Dubai to participate in the Dubai MVP program for virtual assets. The approval will help the company expand its presence in one of the fastest growing crypto regions.

    The latest announcement from FTX Exchange FZE comes approximately four months after FTX Europe, the parent company of FTX Exchange FZE, was licensed to operate by the VA Exchange in Dubai. The approval will enable FTX Exchange FZE to offer innovative products and services to customers in the region, according to a recent press release issued by the company.

    Helal Saeed Almari, CEO of the Dubai World Trade Center Authority, where VARA is located, commented: “We are pleased to join FTX as the first VASP to enter the operational phase of the VARA MVP program. VARA’s operating model, based on our unique test-scale adaptation principle designed for safe and sustainable growth, reflects Dubai’s commitment to creating a globally interoperable model for the future economy.”

    “The MVP phase, exclusive to selected responsible international players such as FTX, will allow VARA to intelligently structure guidelines and risk mitigation levers for safe commercial operations. We look forward to FTX’s active participation in this next phase of joint VA global innovation,” Almari added.

    Earlier this year, FTX announced the launch of FTX Japan. In the same month, the digital asset services provider acquired Bitvo, an Alberta-based crypto platform.

    Dubai

    Dubai’s Virtual Assets Regulatory Authority has approved several applications this year to help grow the regional crypto ecosystem. Earlier this week Komainu has received provisional regulatory approval from Dubai’s VARA.

    FTX CEO Sam Bankman-Fried said: “The approval of FTX to obtain the first MVP VASP license from the Dubai Prudential Supervision Regime to fully operate our exchange is a huge honor and a landmark achievement for our team. Our mission is to lead the way in the development of the digital asset industry in countries and jurisdictions that have a robust digital asset framework.”

    FTX FZE yesterday confirmed that the company has received approval from the Virtual Asset Regulatory Authority (VARA) in Dubai to participate in the Dubai MVP program for virtual assets. The approval will help the company expand its presence in one of the fastest growing crypto regions.

    The latest announcement from FTX Exchange FZE comes approximately four months after FTX Europe, the parent company of FTX Exchange FZE, was licensed to operate by the VA Exchange in Dubai. The approval will enable FTX Exchange FZE to offer innovative products and services to customers in the region, according to a recent press release issued by the company.

    Helal Saeed Almari, CEO of the Dubai World Trade Center Authority, where VARA is located, commented: “We are pleased to join FTX as the first VASP to enter the operational phase of the VARA MVP program. VARA’s operating model, based on our unique test-scale adaptation principle designed for safe and sustainable growth, reflects Dubai’s commitment to creating a globally interoperable model for the future economy.”

    “The MVP phase, exclusive to selected responsible international players such as FTX, will allow VARA to intelligently structure guidelines and risk mitigation levers for safe commercial operations. We look forward to FTX’s active participation in this next phase of joint VA global innovation,” Almari added.

    Earlier this year, FTX announced the launch of FTX Japan. In the same month, the digital asset services provider acquired Bitvo, an Alberta-based crypto platform.

    Dubai

    Dubai’s Virtual Assets Regulatory Authority has approved several applications this year to help grow the regional crypto ecosystem. Earlier this week Komainu has received provisional regulatory approval from Dubai’s VARA.

    FTX CEO Sam Bankman-Fried said: “The approval of FTX to obtain the first MVP VASP license from the Dubai Prudential Supervision Regime to fully operate our exchange is a huge honor and a landmark achievement for our team. Our mission is to lead the way in the development of the digital asset industry in countries and jurisdictions that have a robust digital asset framework.”

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