Maskex Gets Approval To Start Operations In UAE
MaskEX, a cryptocurrency exchange, has gained preliminary authorisation to begin operations in the United Arab Emirates (UAE) from Dubai’s Virtual Asset Regulatory Authority (VARA).
Services and activities such as exchange, lending and borrowing, broker-dealer services, virtual asset management, and investment services have been approved. The long-term goal is to secure VARA’s full market product licence.
MaskEX will begin concluding its entity establishment, engaging banking services, and hiring for its forthcoming Dubai headquarters.
This story was liked by 1401 people. Eighty6 is a B2B ecommerce startup that raised $3.7 million in a seed round. MaskEX, which was founded in 2021, aims to provide a user-friendly interface and advanced trading tools to help both rookie and professional traders traverse the crypto market.
The products offered include savings packages and on- and off-ramp products that allow users to convert fiat currency to digital assets and vice versa with ease.
(With inputs from Shikha Singh)
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