OKX has officially launched its trading platform for both corporate and individual investors in the United Arab Emirates after obtaining a full operating license. Residents of the Emirates can access the services offered by OKX after completing the required registration process on the website or mobile application.
Comprehensive Trading Options for Investors
The platform includes spot trading, rapid trading, conversions, and on-chain yield products. OKX, one of the largest cryptocurrency exchanges by trading volume, has also initiated an enterprise-focused trading platform aimed at institutional and individual investors.
OKX offers derivative trading opportunities for qualified professional traders and institutional investors. These investors must meet specific requirements, including passing a knowledge test and suitability assessment and documenting approximately $136,000 in cash.
To be recognized as an institution, customers must fulfill OKX’s Know Your Customer (KYC) requirements and prove at least two liquidity criteria. These criteria include a minimum balance of $20 million, an annual net turnover of $40 million, or at least $2 million in equity.
“We are very hopeful that stablecoins are vital to close critical financial gaps in the Emirates.” – OKX President Hong Fang.
Following strict measures imposed on seven organizations operating in Dubai’s cryptocurrency sector, the city has strengthened its regulatory framework to ensure transparency and compliance.
Dirham Support Expanding
Outside of OKX, the M2 exchange has also added dirham support to its platform. An announcement made on July 31 stated that users can convert their BTC and ETH directly into dirhams. This function allows investors to quickly adapt to market fluctuations.
These developments contribute to the growth of the cryptocurrency ecosystem in the United Arab Emirates and the emergence of significant investment opportunities.
