OKX, a global onchain technology firm has received regulatory approval to operate in the UAE marking a significant step in the region’s burgeoning crypto market. The UAE has become a key hub for cryptocurrency and blockchain supported by innovative regulations and a strong economic framework.

Investors in the UAE can deposit and withdraw UAE dirhams directly on the OKX platform via local bank accounts. OKX offers an extensive range of cryptocurrencies including over 280 coins and 480 trading pairs such as Bitcoin/UAE dirhams and Ethereum/UAE dirhams.

A recent report by OKX titled Digital Assets as the New Alternative for Institutional Investors reveals that 69% of institutional investors plan to increase their crypto allocations in the next 2-3 years. By 2027, digital assets are expected to comprise 7.2% of institutional portfolios.

Rifad Mahasneh, GM of OKX MENA, highlighted the platform's features tailored for the UAE market including Arabic language support and direct dirham transactions. The firm operates under a full Virtual Asset Service Provider (VASP) license from Dubai's Virtual Asset Regulatory Authority (VARA) ensuring compliance and trust.

With over 2,000 registered crypto businesses and more than 10,000 jobs in the sector, the UAE is poised as a global leader in blockchain and virtual asset regulation setting clear guidelines that promote innovation while protecting investors.