ACCESS Newswire
20 Oct 2021, 21:19 GMT+10
ABU DHABI, UAE / ACCESSWIRE / October 20, 2021 / DEX Limited has commenced its soft launch 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 Limited will provide market clientele the ability to trade and provide custody for virtual assets such as Bitcoin, Ethereum, Bitcoin Cash 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.
Leon Smith, CEO and Founder of DEX Limited, said: 'Our goal is to provide market access to virtual assets for the global markets in a transparent, regulated and secure environment. We have worked extensively to ensure our clients assets and data are secure backing onto a robust regulatory framework to ensure full transparency'.
DEX will act as a fiat to virtual asset platform with the intention to serve all major international currencies.
Many virtual / digital asset platforms are not regulated globally and present a challenge to regulated stakeholders in the global financial ecosystem. 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.
DEX Limited embodies first in class operational capabilities, regulatory mechanisms and is positioned to be a leading regulated global virtual asset exchange servicing the UAE, GCC and global market clientele. DEX expects to provide full operational trading services to clients imminently.
Leon Smith said: '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.'
For Further Information please contact:
Attn: Press Officer
[email protected]
SOURCE: DEX Ventures
Get a daily dose of Bristol Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Bristol Star.
More InformationWASHINGTON, D.C.: The Trump administration has made public a visa decision that would usually be kept private. It did this to send...
LONDON, U.K.: British Prime Minister Keir Starmer won a vote in Parliament this week to move ahead with changes to the country's welfare...
New Delhi [India], July 9 (ANI): The race to qualify for the ICC Men's T20 World Cup 2026 is down to four teams with just two more...
The delay adds yet another twist to Trump's original 90 deals in 90 days promise -- so far yielding only two vague trade agreements...
Los Angeles [US], July 9 (ANI): 'Bridgerton' actress Simone Ashley has joined the cast of 'The Devil Wears Prada 2,' according to Deadline....
The European Union is edging closer to finally adopting its latest sanctions package, the 18th since the full-scale Russian invasion...
MOSCOW, Russia: Just hours after his sudden dismissal by President Vladimir Putin, Russia's former transport minister, Roman Starovoit,...
DHARAMSHALA, India: The Dalai Lama turned 90 on July 6, celebrated by thousands of followers in the Himalayan town of Dharamshala,...
ZAGREB, Croatia: A massive concert by popular Croatian singer Marko Perković, known by his stage name Thompson, has drawn widespread...
WASHINGTON, D.C.: Elon Musk's entry into the political arena is drawing pushback from top U.S. officials and investors, as his decision...
CULVER CITY, California: TikTok is preparing to roll out a separate version of its app for U.S. users, as efforts to secure a sale...
WASHINGTON, D.C.: President Donald Trump claimed he was unaware that the term shylock is regarded as antisemitic when he used it in...