MultiBank Expands into UAE with VARA License
MultiBank Group has expanded its presence in the UAE by launching its subsidiary, MEX Digital FZE. MEX Digital has secured a license from the Virtual Assets Regulatory Authority (VARA) in Dubai. It will allow it to operate under the MultiBank.io brand.
About MultiBank’s New License
MEX Digital FZE obtained a VARA license. It will enable it to function as a regulated broker-dealer and virtual asset exchange. The license permits the company to provide multiple services within the crypto space, with the current scope excluding derivatives. The regulatory approval makes MultiBank a Virtual Assets Service Provider (VASP) in Dubai. The company aims to create an ecosystem integrating financial derivatives with crypto markets.
Benefits for Traders
This update will provide these benefits to traders and investors:
Regulated Crypto Trading
Traders and investors can now engage with crypto assets through a licensed platform. It ensures compliance with Dubai’s regulatory framework. This reduces risks associated with unregulated exchanges.
Investment Opportunities
Investors get multiple digital assets with MultiBank.io, which offers virtual asset exchange services. This move diversifies trading options beyond traditional financial instruments.
Secure and Transparent Trading
The VARA license emphasizes security and transparency. This reassures traders and investors that MultiBank operates under strict oversight.
Market Liquidity
As MEX Digital integrates with MultiBank’s global network, it enhances liquidity in the crypto market. Higher trading volumes mean traders can execute larger trades without significantly impacting prices.
Seamless Transition
For Forex traders, the integration of crypto assets offers a smooth transition into digital markets. MultiBank’s dual expertise allows traders to use familiar strategies in a new asset class.
About MultiBank
MultiBank Group is one of the largest financial derivatives providers in the world. It operates globally with 15 regulatory licenses across five continents. The company offers trading services in Forex, commodities, shares, indices, and cryptocurrencies. MultiBank processes a daily trading volume of over $12.1 billion and serves over one million clients across 90 countries.
Summing Up
The launch of MEX Digital FZE with the VARA license enables MultiBank.io to innovate in the UAE. MultiBank will advance its mission to shape the future of finance through continuous growth and market adaptation.
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