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Benzinga

Business

Shivani Kumaresan

Cryptocurrency Exchange FTX Wins License In Dubai

Dubai FTX Sam Bankman-Fried VARA

Cryptocurrency exchange FTX has received a virtual asset license in Dubai, Bloomberg reported.
The exchange also has plans to set up a regional headquarters in Dubai.
The firm will offer “complex crypto-derivatives products with centralized counterparty clearing to institutional markets,” the report quoted FTX CEO Sam Bankman-Fried.
The license comes a week after Dubai announced the creation of the Virtual Asset Regulatory Authority (VARA), which will be responsible for governing the crypto sector.

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