DEX exchange advances UAE crypto ecosystem
DEX earlier this year secured approval from Abu Dhabi Global Market (ADGM)
DEX (Digital Assets Exchange) will allow retail and institutional investors from the UAE, GCC and Global markets to deposit fiat into a regulated exchange in their native currency.
DEX earlier this year secured in principle approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to operate a Crypto Asset Exchange as part of the wider digital asset regulatory ecosystem developed over the past year by the FSRA.
“This is a significant milestone achieved for DEX and we are excited to be a part of the United Arab Emirates’ (UAE) financial growth. It’s exciting to be a part of a regulatory landscape that will help shape the international digital asset exchange ecosystem and encourage institutional participation in digital assets as an alternative asset class. We also strongly believe that by digitising assets we are creating the fundamentals for a digitised economy not only within the UAE but globally”, said Smith.
In a digital economy connectivity is paramount and digital assets play a significant role in the context of the movement towards a digital economy of scale. The utilisation of digital assets and distributed ledger technology variants will enable growth in the medium term. Digital assets will allow the introduction of new forms of illiquid asset ownership in a regulated environment. This will increase transparency, efficiency and liquidity in the global marketplace.