Dubai, UAE, May 9, 2023 - MaskEX, a next-generation cryptocurrency exchange, announced that it has received preliminary approval from the Dubai Virtual Assets Regulatory Authority (VARA) to begin preparations for its launch in the UAE. The approval represents an important milestone for MaskEX, which has been working tirelessly to expand its presence in the Middle East and bring the benefits of virtual assets to a wider audience.

After obtaining the initial approval from VARA, MaskEX will start to finalize the establishment of the physical company, participate in banking services, hire more staff in the Dubai headquarters office, and take the necessary steps to become the first regulated exchange in the UAE. The services and activities applied by MaskEX include trading, lending, brokerage, virtual asset management and investment services, aiming to obtain the FMP license highly recognized by VARA. This license will enable MaskEX to operate in Dubai while maintaining its commitment to regulatory compliance, client protection and innovation.

"We are very proud and grateful to have received VARA's initial approval, which demonstrates our commitment to complying with the highest regulatory standards," said Eric Yang, CEO of MaskEX. “We believe that our platform will provide users in the UAE with a safe, secure and efficient way to access the world of virtual assets, and we look forward to launching as soon as possible while strictly complying with the requirements set out by VARA.”

The launch of MaskEX in the UAE is expected to bring significant benefits to the local economy, including creating new jobs and attracting foreign investment. As the UAE prioritizes digital transformation and aims to become a regional leader in blockchain technology and virtual assets, the launch of MaskEX will be an important milestone in achieving these goals.

MaskEX provides a user-friendly interface and advanced trading tools, making it easy for both novice and experienced traders to trade in the cryptocurrency market. The exchange offers comprehensive products including savings packages, a highly liquid marketplace covering a wide range of trading pairs, and efficient import and export products that help users easily convert fiat currencies into digital assets and vice versa.

secondary title

About MaskEX

MaskEX is a next-generation centralized cryptocurrency exchange that aims to provide easy and secure access to digital assets for everyone. Founded in 2021, the exchange is committed to promoting the development of global users and contributing to the growth of the cryptocurrency and blockchain industry by providing users with various innovative products and services.

MaskEX provides a user-friendly interface and advanced trading tools, making it easy for both novice and experienced traders to operate in the cryptocurrency market. The exchange offers a comprehensive range of products, including savings plans, over 300 currency pairs, and a deeply liquid perpetual contract market. In addition, MaskEX also provides various import and export products to help users easily convert fiat currency and digital assets into each other.

With the number of users growing to over one million worldwide, MaskEX is committed to promoting the adoption of digital assets and building a more inclusive economy for all smart cities and their citizens.

aboutMaskEXSummarizepress@maskex.com。

Summarize

MaskEX has received preliminary approval from the Dubai Virtual Assets Regulatory Authority (VARA) to begin preparations for its launch in the United Arab Emirates (UAE). The approval allows MaskEX to complete its entity registration, hire staff and work with banks, among other things. The launch is expected to bring significant benefits to the UAE economy, including job creation and attracting foreign investment.