OKX has successfully launched its trading platform tailored for both corporate and individual investors in the United Arab Emirates after securing a full operational license. Eligible residents can now use the platform by completing the registration process via the website or mobile application.
What Trading Features Are Offered?
The new platform provides a variety of trading options, including spot trading, rapid trading, conversions, and on-chain yield products. As one of the largest cryptocurrency exchanges by trading volume, OKX also features a specialized trading service designed for both institutional and individual investors.
Who Qualifies for Derivative Trading?
Qualified professional traders and institutional investors can access derivative trading opportunities. To be eligible, they must meet specific criteria, such as passing a knowledge test and demonstrating a cash balance of approximately $136,000.
For institutional recognition, customers must satisfy OKX’s Know Your Customer (KYC) guidelines and meet at least two liquidity benchmarks. These include holding a minimum balance of $20 million, achieving an annual turnover of $40 million, or maintaining at least $2 million in equity.
- OKX aims to bridge financial gaps in the Emirates through stablecoin initiatives.
- The platform enhances transparency and compliance in the local cryptocurrency sector.
- Additional support for the dirham currency is being integrated by other exchanges.
Recent regulatory adjustments in Dubai are bolstering the cryptocurrency landscape, providing new avenues for investment. These changes mark a significant step forward in establishing a robust cryptocurrency ecosystem in the region.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Source: https://en.bitcoinhaber.net/okx-launches-trading-platform-for-uae-investors