Crypto exchange, FTX, in its recent feat of bolstering its presence around the world, announced that they have officially launched its services in the UAE. The exchange platform has come a long way since its launch in 2019.
FTX currently provides spot trading for over 250-plus cryptos and 300 market pairs. The launch of FTX services is another feather in the cap for UAE, which is working towards modifying Dubai as a crypto hub. The UAE is already home to crypto exchanges including Binance, Kraken, and Crypto.com.
Earlier last month, FTX gained regulatory approval to operate in Dubai and expressed its excitement about following the regulatory framework that protects customers.
Sam Bankman-Fried, the CEO of FTX expressed his excitement on Twitter:
FTX Exchange received the license to operate in Dubai earlier in July. FTX Exchange FZE received its operating license under Dubai Virtual Assets Regulatory Authority’s (VARA) MVP program, which aims to ensure that Dubai’s growth is secure and sustainable.
Last week, Bankman-Fried said in an interview that FTX is working on creating a stablecoin. The FTX CEO added that it is likely FTX will create a stablecoin and the exchange knows how to create one and is thinking about the best partner to work with. But soon after this, Bankman-Fried clarified in a tweet:
Bankman-Fried has been on an acquisition spree with his aim to provide aid in stabilizing the crypto markets.
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Source: Cryptocurrency - investing.com
