Crypto exchange FTX is the first to receive a license in Dubai
The platform will offer crypto derivative products in institutional markets
15.03.2022 - 15:00
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What’s new? The CEO of the FTX cryptocurrency exchange, Sam Bankman-Fried, stated that FTX is the first and so far the only digital asset exchange to be licensed in Dubai. The company plans to open a regional headquarters in the city.
What does the CEO say? According to Fried, FTX aims to offer sophisticated crypto derivatives products with a centralized clearing of counterparties in institutional markets. He added that the previously established FTX Europe subsidiary will be a key participant in the Dubai World Trade Center.
What had happened before? Binance announced that the Central Bank of Bahrain (CBB) has granted it a license as the first global crypto-asset provider.
What is known about FTX? FTX is a centralized cryptocurrency exchange for derivatives trading headquartered in the Bahamas. It was created in 2018 by trader Sam Bankman-Fried and programmer Gary Wang. As of 2022, the platform has over one million registered users.
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