FTX and Binance will reportedly establish regional headquarters in Dubai.
The cryptocurrency platform – FTX – has reportedly received regulatory approval to establish a regional headquarters in Dubai. According to FTX Europe’s Head Patrick Gruhn, the biggest city in the UAE provides “certainty and credibility,” which were key factors for the company to choose this destination.Dubai – an Attractive Location for Crypto Exchangesinto crypto-friendly territory in the past several months.
Its CEO – Sam Bankman-Fried – revealed that the trading venue will offer “complex crypto-derivatives products with centralized counterparty clearing to institutional markets.”Another executive to comment on the matter was Patrick Gruhn – Head of FTX Europe. He praised Dubai as a welcoming destination for crypto-related businesses:
“The certainty and credibility that Dubai assures in its adherence to these commitments allow FTX to safely pursue its overall strategy of scaling towards becoming the first virtual-asset service provider to enter global markets in a fully regulated manner.”Dubai as a possible location for setting up headquarters. The recent coverage disclosed that the trading venue will indeed establish a base there.
Sam Bankman-Fried said he is “incredibly excited and humbled” to be working with the Ukrainian officials to support the cause. Mykhailo Fedorov – Vice Prime Minister – thanked all the people donating funds to the country. He stated that such contributions provide helmets, bulletproof vests, and night vision devices that save the lives of the defending soldiers.
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