May 17, 2022

Dubai Week

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FTX Obtains a Virtual Property Trading License in Dubai

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FTX, a virtual property exchange headquartered in the Bahamas, has been licensed to trade in Dubai, its CEO Sam Bankman-Fried told Bloomberg News.

In his statement, Freight said, “FTX Europe” is a segment of the stock market operating in Europe and the Middle East. He added that the company is headquartered in the Dubai World Trade Center.

“The company will provide complex derivatives of virtual assets with central settlement services for corporate markets,” Fried said.

In the same statement, FTX Europe President Patrick Crohn said: “Confidence and reliability ensured by adherence to Dubai standards will enable the company to safely implement its expansion strategy. Asset Services Provider.

FTX’s market capitalization has risen to $ 32 billion since it raised $ 400 million in the Series C financial round last January. Founded three years ago, FTX has become one of the largest cryptocurrency exchanges in the world in a very short period of time. “Bloomberg” said that marketing efforts played a key role in FTX’s success in a short period of time. FTX is currently seeking to gain corporate customers through a new subsidiary.

According to Bloomberg, citing informed sources, Binance, the world’s largest trading platform for digital assets, also holds licenses to trade in Dubai under the FTX scheme. Got the license.

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