FTX Eyes UAE Institutional Investors After Securing Dubai License

Major global cryptocurrency exchange FTX is in talks to onboard UAE-based institutional investors, leveraging its recent regulatory milestones in Dubai. Following significant developments, FTX has effectively become the first Virtual Asset Service Provider (VASP) to receive the MVP license to operate its Virtual Asset (VA) Exchange and Clearing House. This strategic move positions Sam Bankman-Fried's FTX crypto exchange to offer crypto derivatives products to institutional investors in Dubai with the new license.

The Bahamas-based company said it will start by offering regulated crypto derivatives products and trading services to institutional investors in Dubai. This expansion aims to cater to Financial institutions and large corporations allocating capital for investments in the digital assets space. The Dubai license signifies a pivotal step for FTX in tapping into the burgeoning digital asset market in the Middle East.

“FTX is excited to be regulated in Dubai by VARA! We're excited to expand out our presence in the city, and to work with regulators who have taken the lead in fostering a compliant and innovative cryptocurrency ecosystem,” stated a representative. The new license allows FTX to provide a wider range of services to sophisticated investors in the region, solidifying its position as a leading player in the global crypto landscape.

Stay tuned for updates as FTX continues its expansion and brings regulated crypto derivatives products to institutional investors in Dubai and beyond.