MultiBank Group strengthens presence in UAE with VASP license
MultiBank Group strengthens presence in UAE with VASP license
MultiBank Group has announced its expansion in the UAE through its subsidiary, MEX Digital FZE, which has received a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA).
Operating under the MultiBank.io brand, this license enables the company to provide broker-dealer services and conduct virtual asset exchanges, excluding derivatives.
Loading...
This milestone establishes MultiBank.io as a major player in Dubai’s virtual asset sector, further solidifying MultiBank Group’s reputation as a prominent financial institution globally. The Group holds over $583 million in net assets, serves more than one million traders across 90 countries, and boasts daily trading volumes exceeding $15.6 billion. Known for its strong regulatory compliance, MultiBank Group holds 15 licenses across five continents.
“Our vision at MultiBank Group is to create an ecosystem that bridges traditional financial derivatives with crypto markets. Securing dual licenses reaffirms our unwavering commitment to regulatory compliance and operational excellence on a global scale. This achievement reinforces our dedication to a secure and transparent environment for the global cryptocurrency community and marks a significant step in our evolution from Forex to the forefront of the crypto economy,” stated Naser Taher, Chairman of MultiBank Group.
The new VASP license from VARA enables MultiBank.io to strengthen its role as a leading digital asset exchange, supporting Dubai’s expanding blockchain landscape. The license allows MultiBank.io to leverage Dubai’s strategic position as a fintech hub, attracting clients and partners in the digital asset space.
Notably, MultiBank.io’s growth strategy focuses on team expansion, enriching service offerings, and establishing strategic partnerships to further its impact on the regional cryptocurrency industry. By aligning its goals with Dubai’s broader technological advancement initiatives, MultiBank Group aims to play a significant role in the city’s growing blockchain and cryptocurrency ecosystem.
This strategic expansion aligns with MultiBank’s commitment to providing a regulated, secure environment for digital asset trading. As the UAE continues to position itself as a leader in blockchain technology, MultiBank Group’s entry into this market establishes it as a key player poised to make substantial contributions to the regional and global virtual asset economy.
