Popular cryptocurrency exchange FTX announced the launch of its operations in the United Arab Emirates (UAE) on Oct. 31. As a result, the company emerged as the first to attain a license and the first cryptocurrency exchange to launch its services in the UAE.
As stated earlier in a press release, the firm can now offer crypto derivatives, products and trading services, a nonfungible token marketplace, and custodial services to institutional investors in Dubai. FTX Exchange FZE, a subsidiary of FTX’s Europe and Middle East division, will provide the services.
For FTX, the expansion will aid it in gaining more ground in markets outside the United States and Europe, as the cryptocurrency exchange has been pushing towards gaining global prominence.
Efforts Toward Global Adoption of Cryptocurrency
In recent years, cryptocurrency exchanges have sought opportunities in emerging markets, like the Middle East, which have become…
