The Hong Kong-based crypto investment firm Q9 Capital secures its provisional license from the VARA regulatory to operate in the UAE. The platform joins the list of other big names like Binance, Crypto.com, OKX, FTX and others, currently operating in the regime following the approval. It comes as part of the company’s move to expand its reach in the gulf countries’ financial hub, UAE.
Dubai has shown keen interest in metaverse and web 3 technology. And the Emirate is already on the way to making the UAE one of the world’s most prominent players from the technological aspect. For this purpose, the government previously introduced the first type of its regulatory framework, the Virtual Assets Regulatory Authority (VARA). Its dependent workforce specifically covers the legislation for global crypto companies stepping into UAE.
The provisional licence provided by VARA gives the company legal…
