OKX has officially launched its trading platform targeting both institutional and individual investors in the United Arab Emirates after obtaining a full business license. Residents of the Emirates can access the services offered by OKX after completing the necessary registration process through the website or mobile application.
Comprehensive Trading Options for Investors
The platform includes spot trading, fast transactions, conversions, and on-chain yield products. As one of the world’s largest cryptocurrency exchanges by trading volume, OKX has also initiated an institutional-focused trading platform for both corporate and individual investors.
OKX offers derivative trading opportunities for qualified professional traders and institutional investors, who must meet specific requirements. Customers are required to pass a knowledge test and suitability assessment while demonstrating a cash documentation of approximately $136,000.
To be recognized as an institution, clients must comply with OKX’s Know Your Customer (KYC) requirements and prove at least two liquidity criteria. These include a minimum $20 million balance sheet, $40 million annual net revenue, or at least $2 million in equity.
“We are very hopeful that stablecoins will be vital in closing critical financial gaps in the Emirates.” – OKX President Hong Fang.
Following stringent measures imposed by Dubai on seven cryptocurrency firms, the city has strengthened its regulatory framework to ensure transparency and compliance.
Rifad Mahasneh, OKX’s General Manager for the MENA region, noted that the company sees significant opportunities in the UAE, and the regulatory environment facilitates business operations.
“Our platform is specifically designed for the UAE market, featuring Arabic language support and trading pairs corresponding to the UAE dirham,” – Rifad Mahasneh.
OKX enables investors to seamlessly withdraw and deposit UAE dirhams through local bank accounts. Users can convert local currency into cryptocurrencies like Bitcoin 
$96,123, Ether, and Tether. On October 3, 2024, the company added the ETH/BTC pair to its Dual Investment products and listed cryptocurrencies like MOODENG, NEIRO, PYUSD, and EIGEN.
Dirham Support Expands
In addition to OKX, the M2 exchange has also added dirham support on its platform. In a statement made on July 31, it was noted that users could directly convert their BTC and ETH into dirhams. This functionality allows investors to quickly adapt to market fluctuations.
These developments contribute to the growth of the cryptocurrency ecosystem in the United Arab Emirates and present significant investment opportunities.
