FTX Goes Live As First Licensed Crypto Exchange in the UAE – What Does Sam Bankman-Fried Have Planned?
Source: FTX Major crypto exchange FTX has announced it has gone live as the first institution of this type which secured a full license to operate in the United Arab Emirates (UAE). "As the first licensed crypto exchange in the UAE, we're super excited to expand our operations and grow FTX's presence in the region," the business said in a tweet. The exchange will operate in the region under the name of FTX MENA FZE. The entity also said that, during its minimum viable product (MVP) phase, its "services are only available to qualified retail investors, accredited investors and institutions". "This enables us to deploy regulated crypto derivatives products and trading services to qualified institutional investors across the region," according to the company. In September 2022, rival major exchange Binance announced it received the Minimal Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA) after...