DEX, a cryptocurrency trading platform, announced on Tuesday that it has obtained permission and authorization from the Financial Services Regulatory Authority (FSRA) in the United Arab Emirates.

The authorization will allow the platform to operate a regulated multilateral commercial facility and a platform to hold and use virtual assets.

DEX can now legally offer its services to individual and accredited investors, commercial companies and institutions all over the world.

According to the press release shared with Source The regulated platform will allow cryptocurrency trading with all major fiat currencies, along with local currencies in the UAE and GCC countries.

DEX CEO Leon Smith said:

At DEX, our goal is to provide investors with a cryptocurrency platform that provides a regulated and best-in-class trading experience.

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For us, this means ensuring trust through strong regulation and offering transparency and security.

The Abu Dhabi-based company is looking to launch cryptocurrency trading and custody services in the third quarter of this year.

Smith added in his statement:

DIFX aims to provide its clients with a regulated and secure server trading system that we believe is the future of cryptocurrency trading on a global scale.

Switching to a platform that supports several options:

The company also revealed that it has future plans to seek further regulatory approval to cover a range of additional asset classes, including digital securities, options and derivatives.

On the regulatory authorities in the UAE, Smith said:

ADGM’s rigorous and incremental approach to regulating digital assets provides the strongest possible foundation for launching an enterprise-level platform that meets the needs of today’s participants.

Obtaining this authorization will enable us to provide and hold digital currency related services and will be a major milestone in our journey to provide a secure, regulated and transparent platform covering a wide range of digital assets to our clients.

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