OKX is gearing up towards its official launch out of the UAE as it awaits its license from Dubai’s virtual asset regulatory authority (VARA) with the launch of its Arabic language website and application for both crypto trading and Web3 services.
As per the press release, this initiative marks a significant step in making digital assets and web3 technologies more accessible to Arabic-speaking audiences.
With the Arabic website and application OKX is catering to the unique needs of different markets, ensuring a smooth and user-friendly experience for Arabic-speaking users.
OKX MENA General Manager Rifad Mahasneh said, “The introduction of the Arabic OKX website and app represents our customer focus and commitment to growth. By offering our exchange and web3 platforms in Arabic, we aim to empower more individuals to participate in the evolving digital economy seamlessly. The addition of Arabic to our global platform brings the total number of languages available to 22, highlighting our global reach and dedication to customer service.”
OKX’s crypto exchange is the second largest globally by trading volume and is trusted by more than 50 million users. OKX’s leading self-custody solutions include the Web3-compatible OKX Wallet, which allows users greater control of their assets while expanding access to DEXs, NFT marketplaces, DeFi, GameFi and thousands of dApps.
OKX announced the establishment of its Hong Kong entity (OKX Hong Kong) in March 2023 for the purpose of applying for the VASP license and operating as a virtual asset trading platform in Hong Kong. In September 2023 OKX announced that it was in its final stretch of its virtual asset service provider (VASP) license in Hong Kong. The exchange is expected to receive approval by March 2024.
In UAE, OKX received its MVP preparatory license from Dubai’s VARA in June 2023 and is still awaiting its final license. In November of 2023, OKX announced the appointment of a general manager for the MENA region based out of Dubai UAE.
In December 2023 the exchange delisted multiple tokens based on user feedback and failure to adhere to its delisting/hiding guidelines, including several privacy-focused tokens. The first batch of delistings will see KSM, FLOW, JST, ANT, FSN, KZS, CAPO, and CVP trading pairs delisted on January 4, 2024. Followed by XMR, DASH, ZEC, and ZEN, delisted on January 5, 2024. This is a requirement by VARA as it does not allow the trading of privacy focused tokens.
