MultiBank Receives a VASP License from Vara

MultiBank Group, a leading financial traditional derivatives institution based in Dubai, has officially launched its UAE operations through its subsidiary MEX Digital FZE. The subsidiary has secured a Virtual Assets Regulatory Authority (VARA) license under the MultiBank.io brand. MultiBank.io is the regulated cryptocurrency exchange under MultiBank Group, offering a user-friendly platform for instant, secure trading including Bitcoin, Ethereum and more.

The VASP license authorizes MultiBank.io to operate as both a broker-dealer and exchange for virtual assets, excluding derivatives for now. This accomplishment solidifies MultiBank.io’s standing as a leading Virtual Assets Service Provider (VASP) in the region.

MultiBank Group, a global financial leader with net assets exceeding $583 million and over 1 million traders across 90 countries, handles daily trading volumes of more than $15.6 billion. With 15 regulatory licenses worldwide, the company maintains an impeccable compliance record since its establishment in 2005.

Naser Taher, Chairman of MultiBank Group, stated, “Our vision at MultiBank Group is to create an
ecosystem to facilitate integration between the financial derivatives markets and the crypto
markets. We are happy to have been awarded dual licenses, affirming our steadfast commitment to
regulatory compliance and excellence worldwide. This milestone strengthens our dedication to
creating a secure and transparent environment for the global cryptocurrency community and marks
a significant chapter in our evolution from Forex to the forefront of the crypto economy.”

With its VASP license, MultiBank.io is positioned to accelerate its growth as a premier digital asset exchange, contributing significantly to Dubai’s expanding blockchain landscape. The company plans to expand its team, enhance services, and form strategic partnerships to drive the cryptocurrency industry’s growth in the region.