The Virtual Asset Regulating Authority (VARA) of Dubai has given the next-generation digital currency trading platform MaskEX the green light to start making plans to launch in the United Arab Emirates. The crypto exchange received the go-ahead to begin making plans for its opening in the UAE. The approval is an important victory for MaskEX, which continues to be working hard to increase its visibility in the area to increase awareness of the advantages of virtual assets. With the preliminary nod from VARA, MaskEX can now proceed with corporate incorporation, engage financial services, hire more employees in Dubai for its upcoming corporate office, and take other required measures for becoming the first controlled exchange in the UAE. In order to gain VARA’s highly coveted FMP license, MaskEX applied for exchange, borrowing and lending, broker-dealer, as well as virtual management of assets and investing services. With the help of this license, MaskEX will be able to continue operating in and out of Dubai while maintaining its commitment to legal compliance, client safety, and innovation. As a tribute to our dedication to upholding the highest regulations, we are incredibly pleased and happy to have acquired first approval from VARA, stated Eric Yang, President of MaskEX. “We are confident that our system will give UAE users a secure, dependable, and effective way to enter the world of online resources, and we look towards deploying as soon as we can, strictly following the guidelines established by VARA.” The introduction of MaskEX in the United Arab Emirates is projected to have a positive impact on the regional economy, leading to the development of new jobs and drawing in foreign investment. The introduction of MaskEX will be a significant step towards attaining these aims as the UAE takes an important position in this area by prioritizing digital change and working to become an expert in the use of blockchain and virtual assets.
MaskEX makes it simple for both new and seasoned investors to navigate the world of digital currencies with its user-friendly interface and cutting-edge trading tools. The platform offers a complete range of goods, including savings containers, deeply liquid exchanges spanning a wide range of trade pairs, and effective on- and off-ramp solutions to help consumers easily transfer fiat dollars to digital resources and vice versa. The initial blessing from VARA is a significant accomplishment for us and has significant implications for the whole MENA location, not just the UAE, according to MaskEX vice president and chief strategist Ben Caselin. We foresee cooperating extensively with regulators in order to make sure that our website satisfies all criteria and offers our users a safe and open environment. “All of us are confident that our online service will give UAE users an efficient, dependable, and effective way to engage with a global array of virtual wealth, and we look to starting as soon as we can, strictly following the regulations established by VARA.”