UAE Based DEX regulated digital asset exchange is soft launching and has started to onboard clients and to accept client deposits in both fiat and virtual assets. DEX has secured approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to operate as a MTF (Multilateral Trading Facility) as well as a regulated custodian of both fiat and virtual assets.
Initially, DEX will provide market clientele the ability to trade and provide custody for virtual assets such as Bitcoin, Ethereum, BCH and Litecoin.
DEX will offer clients a secure and transparent institutional-grade platform in a highly regulated financial ecosystem. Robust market infrastructure has been employed providing confidence to all market participants that DEX backs onto a secure regulatory framework providing transparency and compliance in the virtual asset marketplace.
DEX will act as a fiat to virtual asset platform with the intention to serve all major international currencies. As per the press release, DEX intends to assist regulated stakeholders meet their compliance and fiduciary duties to appoint a regulated virtual asset custodian and/or trade on a regulated platform.
Leon Smith added, “This is a significant milestone achieved for DEX and we are excited to be a part of the United Arab Emirates’ (UAE) virtual asset eco system being based in the ADGM. It’s exciting to be a part of a regulatory landscape that will help shape the international virtual asset ecosystem and encourage both retail and institutional participation in virtual assets as an alternative asset class.”