OKX, a leading global blockchain technology company, has officially launched its platform in the United Arab Emirates (UAE) after obtaining a full operational license. This milestone makes OKX the first global cryptocurrency exchange to offer AED banking services for both retail and institutional clients in the UAE.
UAE Market Access and Key Features
- AED Banking Integration: UAE residents can now deposit and withdraw AED directly from local bank accounts on OKX's platform.
- Expanded Crypto Offerings: Trade over 280 cryptocurrencies across 480 trading pairs, including BTC/AED, ETH/AED, and USDT/AED.
- Derivatives Trading: Qualified retail users and institutions meeting specific criteria can access derivatives products.
The announcement was made during OKX's grand event "A New Choice for Dubai" at the Museum of the Future, attended by prominent figures including:
- Star Xu, OKX Founder & CEO
- Rifad Mahasneh, OKX Middle East General Manager
- Pep Guardiola, Manchester City FC Manager
- Anthony Scaramucci, Skybridge Capital Founder
- Sandeep Nailwal, Polygon Co-Founder
- Muneeb Ali, Stacks Co-Founder
Services Now Available in UAE
After completing verification steps on the OKX app or website, UAE residents gain access to:
- Spot trading
- Token swaps
- Quick buy/sell
- On-chain yield products
Qualification Requirements
- Retail Users: Must pass a knowledge test, suitability assessment, and prove liquidity of ≥500,000 AED.
Institutional Clients: Require additional KYC verification and either:
- Total assets ≥$20M, or
- Annual net turnover ≥$40M, or
- Minimum $2M in capital.
OKX's Global Expansion Strategy
This UAE launch follows OKX's recent market entries:
| Market | Launch Date | Key Offerings |
|--------|-------------|---------------|
| Brazil | 2023 | Exchange & Web3 Wallet |
| Turkey | 2024 | Localized Trading Pairs |
| Australia | 2024 | AUD Banking Integration |
| Netherlands | 2024 | MiCA-Compliant Services |
The company also strengthened its leadership by appointing Yuri Mushkin (ex-Goldman Sachs) as Global Chief Risk Officer to oversee security protocols.
Commitment to Transparency
OKX continues to set industry standards with:
- 23 consecutive months of published Proof of Reserves
- Monthly audits verifying 1:1 client fund backing
- Arabic-language customer support
FAQs
Q: How do I sign up for OKX in UAE?
A: Visit OKX.com or download the app, complete identity verification, and link your UAE bank account.
Q: What cryptocurrencies can I trade?
A: Over 280 assets including Bitcoin, Ethereum, and AED stablecoin pairs.
Q: Are derivatives available to all users?
A: Only for qualified clients meeting financial and knowledge requirements.
Q: Does OKX offer Arabic support?
A: Yes, both the platform and customer service support Arabic.
Q: Is OKX regulated in UAE?
A: Yes, licensed by VARA (Virtual Asset Regulatory Authority).
Disclaimer: Digital assets involve risk. OKX Middle East Fintech FZE operates under VASP License VL/23/12/003. Consult financial advisors before trading.
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