The future of digital finance in the Middle East has taken a major leap forward with the official launch of OKX’s fully licensed exchange operations in the United Arab Emirates (UAE). At a high-profile gala event hosted at Dubai’s iconic Museum of the Future, OKX announced it is now live and fully operational under the regulatory oversight of the Virtual Assets Regulatory Authority (VARA)—marking a pivotal moment for blockchain innovation in the region.
This milestone positions OKX as the first global cryptocurrency exchange to offer a complete suite of services for both retail and institutional investors in the UAE, backed by full regulatory compliance and local banking integration.
Full Regulatory Approval and Local Banking Integration
With its new VARA license, OKX is now authorized to provide VA Exchange Services, VA Management and Investment Services, and VA Lending and Borrowing Services through its Dubai-based entity, OKX Middle East Fintech FZE. This comprehensive licensing framework ensures that all operations meet international standards for investor protection, transparency, and risk management.
One of the most significant advancements is the integration of AED banking rails. UAE residents can now deposit and withdraw AED directly from their local bank accounts into their OKX accounts—streamlining access to digital assets like never before. This seamless fiat gateway enhances user experience and lowers barriers to entry for new investors.
👉 Discover how easy it is to start trading crypto with local currency support.
Expanded Access to Digital Assets
OKX offers the widest selection of cryptocurrencies and trading pairs in the UAE, including over 280 cryptocurrencies and 480 trading pairs. Traders can now execute spot trades on popular pairs such as BTC/AED, ETH/AED, and USDT/AED, giving them greater control and flexibility in managing their portfolios using local currency.
In addition to spot trading, users have access to:
- Instant buy/sell (Express)
- Convert functionality
- On-chain earning products
- Advanced trading tools
For qualified and institutional investors who meet specific criteria, derivatives trading is also available—opening up sophisticated investment strategies previously unavailable to many regional participants.
To qualify as a "qualified investor," users must pass a knowledge test, complete a suitability assessment, and provide documentation showing at least AED 500,000 in liquid assets. Institutional clients must meet additional KYC requirements and demonstrate two of the following: USD 20 million in balance sheet total, USD 40 million in annual net turnover, or USD 2 million in own funds.
Visionary Leaders Unite at Museum of the Future Event
The gala event, themed “A New Alternative for Dubai,” brought together some of the most influential figures across technology, finance, sports, and innovation. Attendees included:
- Star Xu, Founder and CEO of OKX
- Rifad Mahasneh, OKX Middle East General Manager
- Pep Guardiola, Manchester City Men's First Team Manager
- Anthony Scaramucci, Founder and Managing Partner of Skybridge Capital
- Sandeep Nailwal, Co-founder of Polygon
- Muneeb Ali, Co-creator of Stacks
These leaders participated in panel discussions exploring how blockchain technology will reshape industries—from sports and entertainment to finance and urban development—aligning with Dubai’s forward-looking vision for 2033.
Rifad Mahasneh emphasized OKX’s long-term commitment:
“We're thrilled to be the first global crypto exchange to launch with a full operating license for retail and institutional clients in the UAE. Tonight's celebration is just the beginning of a long-term journey.”
Commitment to Security, Transparency, and Global Expansion
Security remains a cornerstone of OKX’s operations. The company was among the first in the industry to publish monthly Proof of Reserves, a practice it continues with 23 consecutive transparent reports. This initiative reinforces trust by verifying that customer funds are fully backed at all times.
At the event, OKX also announced the appointment of Yuri Mushkin as Global Chief Risk Officer. With over two decades of experience at institutions like Goldman Sachs and McKinsey & Co., Mushkin brings deep expertise in risk management across traditional and digital asset markets.
This UAE launch follows a series of strategic global expansions:
- Brazil (late 2023)
- Türkiye, Australia, Netherlands (first half of 2024)
- Singapore: Received Major Payment Institution (MPI) license from MAS
- Malta: Designated as OKX’s MiCA hub for EU market access
These moves reflect OKX’s mission to build locally while serving a global audience—bridging traditional finance with decentralized ecosystems.
Local Support and User Experience
OKX has tailored its platform to meet the needs of UAE users. The app and website support Arabic language customer service, ensuring accessibility for native speakers. New users can download the OKX app via the App Store or Google Play, complete verification, and begin trading within minutes.
To celebrate the launch, OKX is offering up to 100 AED in rewards for new users who sign up and try the platform—making it easier than ever to get started.
👉 Start your crypto journey today with exclusive launch incentives.
More tokens will be listed for UAE customers in the coming months. Users can check the latest available assets at OKX’s markets page.
Frequently Asked Questions (FAQ)
Q: Is OKX legal and regulated in the UAE?
A: Yes. OKX Middle East Fintech FZE is licensed by the Virtual Assets Regulatory Authority (VARA) to offer exchange, investment, and lending services in Dubai.
Q: Can I deposit AED from any UAE bank?
A: Yes. OKX supports direct AED deposits and withdrawals from all major UAE banks through secure local banking rails.
Q: What types of trading are available?
A: Retail users can access spot trading, convert, express buy/sell, and on-chain earning products. Qualified and institutional investors may also trade derivatives.
Q: How do I become a qualified investor?
A: You must pass a knowledge test, complete a suitability assessment, and provide proof of at least AED 500,000 in liquid assets.
Q: Is customer support available in Arabic?
A: Yes. Arabic-speaking support is available via the OKX website and app.
Q: Is my money safe on OKX?
A: OKX maintains full reserve backing for customer assets, verified through monthly Proof of Reserves reports. Advanced security protocols protect user accounts and funds.
OKX’s entry into the UAE represents more than just a market expansion—it's a step toward building a more inclusive, transparent, and efficient financial ecosystem powered by blockchain technology. As Dubai continues to lead the region’s digital transformation, platforms like OKX are helping turn visionary goals into reality.