OKX’s Global Chief Commercial Officer, Lennix Lai, has shared insights on latest trading data especially as BTC reaches a new fresh ATH. According to Lai, the latest trading data reveals that Ethereum has surpassed Bitcoin as OKX’s most traded cryptocurrency.
Ethereum has captured 27% of spot volume despite BTC recently setting a new all-time high of $110,730. Ethereum overtaking Bitcoin is a first for this year.
As per OKX, which is licensed in the UAE, the numbers tell the story. ETH now captures nearly 27% of spot volume versus Bitcoin’s 26.5%, completely flipping April’s dynamic when BTC dominated at 38% while Ethereum lagged below 20%.
According to Lai, this signals a distinct rotation as traders reposition while Bitcoin consolidates near all-time highs, despite BTC recently hitting a fresh record of $110,730. Even with the SEC’s delays on ETH staking ETFs, the Ethereum narrative is clearly gaining traction, potentially driven by anticipation around upcoming upgrades (e.g. Fusaka) and bullish news of TradFi institutions building Ethereum L2s to tokenize RWAs.
He adds, “What makes this shift even more remarkable is that it’s happening amid surging overall activity – we saw spot trading volume jump by 60% week-over-week in the second week of May, with momentum continuing as volumes climbed another 6% the following week while both ETH and BTC continued their rallies. The timing of this shift really shows us how the market is maturing.”
With Bitcoin futures open interest hitting a record $72 billion, Coinbase joining the S&P 500, and the GENIUS Act clearing the Senate in the US, OKX is seeing more clarity and potentially even deregulation in certain jurisdictions.
Lai concludes, “I think these are early signs of a more sophisticated market cycle where capital flows toward growth potential rather than simply chasing Bitcoin’s momentum. While corporate treasuries keep adding Bitcoin to their books, Ethereum’s comeback on our platform suggests we’re entering a more nuanced phase where traders are backing multiple horses in this bull market rather than putting all their chips on Bitcoin.”
The Family Office Summit, a well renowned investment summit being held in Abu Dhabi UAE on May 29th 2025 will have OKX crypto exchange as their official Crypto Partner. OKX joins the roster of other partners that include Mashreq Bank, Nexus Wealth Management, Select Equity and others.
As per the LinkedIN post, “We’re excited to welcome OKX as our official Crypto Partner for the upcoming Family Office Summit in Abu Dhabi. As one of the world’s leading crypto exchanges and Web3 platforms, OKX is helping investors navigate the next chapter of digital assets with trust, innovation, and global scale.”
The post adds that OKX involvement will bring a crucial perspective to our discussions, from tokenization and custody to how family offices are approaching crypto as an alternative asset class.
OKX, the global crypto platform regulated in the UAE, has launched one of the biggest crypto trading campaigns that the UAE has ever seen. The total reward pool is 5 million AED equivalent to $1.36 million dollars.
As per the campaign all users have to do is sign up, link their UAE Bank account and trade. Individual prize awards will reach up to 50,000 AED equivalent to $13,600, while new users will also receive AED 250 on their first deposit of AED 250, and AED 500 on completing their first trade of AED 500.
There are also daily rewards of up to 100 USDT for every 1,000 USDT traded.
5 Million AED up for grabs! Get your piece from UAE’s biggest crypto reward 🤠
Sign up to OKX, deposit from your UAE bank, trade and win!
This is not the first campaign to be launched this year in UAE by either crypto exchanges or even crypto savvy digital banks such as Liv Bank which recently also launched its crypto campaign, however this is one of the biggest pool rewards.
As the scene in the UAE becomes more competitive with many licensed crypto exchanges competing for clients, and with the entrance of banks into the crypto scene, more campaigns, services and offerings will be on the table.
Standard Chartered and UAE regulated OKX, a cryptocurrency exchange have launched collateral mirroring program, enabling institutional clients to utilize cryptocurrencies and tokenized money market funds as off-exchange collateral for trading under a pilot overseen by the Dubai Virtual Asset Regulatory Authority (VARA).
As per the press release, the initiative significantly enhances security and capital efficiency for institutional clients by using a Globally Systemically Important Bank (G-SIB) as the custodian for their collateral.
Margaret Harwood-Jones, Global Head of Financing and Securities Services at Standard Chartered said: “We understand the critical importance of robust and secure custody solutions, especially in the evolving digital asset landscape, and our collaboration with OKX to enable the use of cryptocurrencies and tokenised money market funds as collateral represents a significant step forward in providing institutional clients with the confidence and efficiency they need. By leveraging our established custody infrastructure, we are ensuring the highest standards of security and regulatory compliance, fostering greater trust in the digital asset ecosystem.”
The collateral mirroring capability has been launched as a Pilot within the Dubai Virtual Asset Regulatory Authority’s (VARA) regulatory framework, and it allows clients to benefit from enhanced protection against counterparty risk, a significant concern in the current digital asset markets.
Standard Chartered acts as the independent, regulated custodian in the Dubai International Financial Centre (DIFC), regulated by the Dubai Financial Services Authority, ensuring the safe storage of the assets used as collateral, while OKX through its VARA regulated entity, manages collateral and facilitates transactions. Franklin Templeton will be the first in a series of money market funds that will be offered under the OKX-SCB program.
Hong Fang, President of OKX, added, “As the digital assets ecosystem becomes more ingrained within traditional finance, we strive to both drive growth and safeguard client assets in the most capital efficient manner. By leveraging Standard Chartered’s position as a top custodian globally, as well as OKX’s market leadership in cryptocurrency trading, the partnership sets an industry standard for current and potential institutional clients to deploy trading capital at scale in a trusted environment.
Franklin Templeton, a recognised leader in tokenisation and real world assets (RWA), continues to innovate by leveraging blockchain technology to deliver cutting-edge solutions to customers and clients. Through this collaboration, OKX clients will gain access to on-chain assets developed by Franklin Templeton’s Digital Assets Team, seamlessly integrating them into their financial and operational structures.
Roger Bayston, Franklin Templeton Head of Digital Assets, says “Leveraging blockchain technology, our platform is built to support the dynamic and ever-evolving financial ecosystem. We take an authentic approach, from directly investing in blockchain assets to developing innovative solutions with our in-house team. By ensuring assets are minted on-chain, we enable true ownership, allowing them to move and settle at blockchain speed – eliminating the need for traditional infrastructure.”
Brevan Howard Digital, the dedicated crypto and digital asset division of Brevan Howard, a leading global alternative investment manager, is among the first few institutions to onboard onto this pioneering programme, highlighting the importance of such capabilities being offered by a leading international cross-border bank and a highly reputable global exchange.
Ryan Taylor, Group Head of Compliance at Brevan Howard and CAO of Brevan Howard Digital, commented: “This program is the latest example of the continued innovation and institutionalization of the industry. As a significant investor in the digital assets space, we are thrilled to partner with industry leaders to further grow and evolve the crypto ecosystem globally.”
OKX Ventures has led a $7 million of a seed funding into UAE based PlaysOut with additional participation from kbw Ventures and Pacific Century Group. This funding will be instrumental in expanding PlaysOut’s blockchain enabled mini-game ecosystem, fostering strategic partnerships, and enhancing its market presence.
PlaysOut is designed to assist developers in releasing mini-games on popular platforms such as Telegram, Discord, and YouTube. The platform integrates blockchain features and infrastructure, providing a seamless experience for developers and users alike. One of the key developments for PlaysOut is the upcoming launch of its embedded SDK in May, which is expected to further streamline the process of integrating mini-games with blockchain technology.
The participation of OKX Ventures underscores the growing interest in the mini-game sector and the potential of blockchain technology in enhancing gaming experiences.
KBW Ventures and Pacific Century Group, both known for their investments in innovative technologies, also bring valuable expertise and resources to the table. The funding will be used to expand the mini-game ecosystem, ensuring that PlaysOut can offer a diverse range of games and features to its users.
Overall, the $7 million seed funding round positions the platform for growth and innovation in the mini-game sector, leveraging blockchain technology to create a unique and engaging experience for developers and users. With the support of OKX Ventures, KBW Ventures, and Pacific Century Group, PlaysOut is well-equipped to achieve its goals and establish itself as a leader in the mini-game industry.
In just 24 hours several crypto exchanges licensed in the UAE have been promoting new offerings and campaigns targeting professional and institutional traders. OKX, Binance, GCEX and Deribit all have come out with announcements on new service offerings for institutional players, and all these crypto exchanges have licenses in the UAE.
OKX, a leading cryptocurrency exchange and global on chain technology company, announced the launch of its ‘Trade Like a Pro’ brand campaign. The campaign celebrates “A New Alternative for the UAE,” marking OKX’s recent milestone of becoming operationally live and licensed in the region as of October 10, 2024.
It is tailored specifically for UAE audiences and presented in both Arabic and English, the campaign provides a unique opportunity for local traders to learn strategies from professional traders in their market and understand why they chose OKX as their preferred trading platform. OKX is the first global crypto company in the UAE to offer AED banking rails for its retail and institutional customers and this campaign further underscores its commitment to the UAE and dedication to fostering the growth of the crypto and Web3 ecosystem in the region.
To celebrate the launch of this campaign in the UAE, OKX is offering eligible customers the chance to receive up to 100 USDT by reaching set trading volumes across spot and futures. Additionally, customers can earn 10 USDT by depositing 50 USDT into their accounts, plus an extra 50 USDT for sharing the campaign on their social media platforms. For more details about the ‘Trade Like a Pro with OKX’ campaign, running from October 29 to November 30, click here.
Even Binance has announced Binance Wealth, a technological solution for wealth managers. As per Binance, Binance Wealth allows wealth managers to oversee the onboarding of their clients and make investment recommendations, allowing their clients to receive strong support during onboarding and thereafter while retaining full discretionary control, akin to traditional wealth management.
Wealth managers must first apply to access Binance Wealth. After being successfully onboarded, they can then help support their clients’ onboarding journey by submitting the necessary KYC/KYB documentation for verification. Onboarded clients can then manage their own investments directly as well as receive recommendations from their
Catherine Chen, Head of Binance VIP & Institutional shared, “As investors worldwide recognize the potential of digital assets, we are responding to wealth managers and their clients asking for a solution to more easily access crypto. Unlocking capital inflow is key to making digital assets mainstream but there has long been a lack of traditional infrastructure for the private wealth segment to gain exposure to crypto. Binance Wealth will reduce the entry barrier for more market participants to access this new asset class and help bridge crypto and traditional finance.”
While GCEX Group, digital asset and foreign exchange solutions, has partnered with RULEMATCH, a leading market operator, to offer its institutional clients access to one of the world’s fastest trading venues for cryptocurrencies.
RULEMATCH is a spot crypto trading venue based in Switzerland, built on institutional grade technology. In addition to unparalleled execution speeds, it offers access to competitive and consistent liquidity from regulated market makers, capital efficient post-trade settlement, and stringent AML/CFT controls.
This latest development from GCEX enables its client base of hedge funds, algorithmic trading firms, brokers and ETF/ETP providers to benefit from binding quotes in an anonymous Central-Limit Order Book (CLOB) and execution times of 25 microseconds. To ensure capital efficiency and minimise settlement risks, multilateral clearing and settlement are fully integrated and handled via GCEX acting as Prime Broker Sponsor.
Lars Holst, CEO, GCEX said, “We are continually looking to push boundaries and extend our offering. Our partnership with RULEMATCH presents a fantastic opportunity for our clients. RULEMATCH is built on state-of-the-art institutional grade technology that offers ultra-low latency trading of cryptocurrencies, with ultra-competitive fees and consistent execution latency down to 25 microseconds. Their offering is very impressive and we share the same ethos in terms of market integrity and professionalism.”
Finally Deribit, a digital assets derivatives exchange, launched its support for hybrid custody solutions that allow for quicker onboarding of third-party custodians and brokerages for capital markets traders. At launch, custody firms set to utilize the hybrid model include Fidelity Digital Assets®, Copper Securities, and Zodia, with others set to be onboarded later this year.
Deribit’s current third-party custodians are fully integrated with the exchange, allowing traders to leverage all of Deribit’s trading capabilities via an API without the funds ever needing to leave their account. However, these integrations take time, making it harder for institutional traders to access the exchange and giving them fewer options for how to secure collateral. The hybrid custody model solves this problem as custodians are able to offer Deribit as a trading venue without needing full integration, giving traders using Fidelity Digital Assets® and others faster access to the Deribit trading platform.
Deribit CEO Luuk Strijers commented on the news, “At Deribit, we are committed to continually innovating and meeting the evolving needs of our institutional members and make it easier for all to access crypto derivatives markets. Throughout 2024, we have continued to focus on our institutional clients to create a fulsome trading experience in the broader finance ecosystem. Supporting a hybrid custody model marks a significant step forward, providing enhanced flexibility for accessing Deribit’s world-class digital asset derivatives trading offerings. By allowing for a hybrid model with these external custody solutions, we empower our clients while maintaining the seamless trading experience Deribit is known for.”
In a hybrid model, Deribit traders leveraging a custodian that isn’t integrated with the exchange will have to store a percentage of assets on the exchange to meet collateral requirements, while the rest will be secured by their custodian of choice. Members will need to deposit 20% of their total assets on Deribit by default, but this number is subject to change depending on trading activity, exposure, risk profiles, and market conditions. Daily settlements of profit and loss occur within the Deribit platform.
As of early 2024, institutional investors and companies have poured billions into the cryptocurrency space. In Q1 2024, over $2.4 billion was invested by venture capital firms in crypto startups. Over 70% of institutional investors are planning to put money in crypto this year.
Institutional investment in the crypto space is surging in the United Arab Emirates. Blockchain data platform Chainalysis found that institutional investments (each exceeding $1 million in value) constituted more than 67% of cryptocurrency transactions in the federation of seven emirates between July 2022 and June 2023. Following these institutional transactions were transfers linked to professional investments, ranging from $10,000 to $1 million, and retail investments made up 4.63% of all transfers in the Emirates, according to a report published on Sept. 26.
OKX, cryptocurrency exchange and global onchain technology company, will be utilizing Standard Chartered, cross-border bank connecting the world’s most dynamic markets, as a third-party crypto custodian for its global institutional business.
The custody agreement with Standard Chartered is a significant addition to OKX’s comprehensive suite of institutional services, which includes advanced trading capabilities, robust risk management tools and enhanced custody solutions. By leveraging Standard Chartered’s extensive global banking expertise and rigorous risk management framework, OKX aims to offer institutional investors a broader range of secure and reliable custody solutions.
OKX Global Chief Commercial Officer Lennix Lai said, “We selected Standard Chartered as an institutional custodian partner to enhance our offering and accelerate the integration of digital assets within the traditional financial ecosystem. Standard Chartered’s extensive global banking expertise and unwavering commitment to security aligns with our objective to provide exceptional crypto services and reinforces the confidence of our institutional clients in managing their digital assets.”
Standard Chartered Global Head of Financing & Securities Services Margaret Harwood-Jones said “We are committed to offering custodial services that meet the highest standards of safety and compliance. Serving as OKX’s third-party custodian allows us to extend our expertise into the evolving cryptocurrency sector, providing institutional investors with the assurance they require.”
This collaboration is expected to attract increased institutional participation in the digital asset market, contributing to a more mature environment for institutions globally. It aligns with the findings of a recently published OKX-commissioned research brief authored by Economist Impact, entitled “Digital assets as the new alternative for institutional investors: market dynamics, opportunities and challenges,” which highlights institutional investors’ view that digital assets are an inevitable institutional opportunity. The report also finds that 80% of traditional and crypto hedge funds utilizing digital assets employ third-party custodians, highlighting strong demand for segregation of duties related to trade execution and asset custody.
Prior to this announcement Brevan Howard became the first client for Standard Chartered regulated crypto custody service out of DIFC. DIFC ( Dubai International Financial center) regulator DFSA ( Dubai Financial has granted a license to Standard Chartered for its digital asset custody service in the UAE.
OKX crypto exchange now has a fully active crypto exchange license from Dubai’s regulator VARA ( Virtual Asset Regulatory Authority), published on VARA website today.
OKX with this active license is now authorised to serve Institutional Investors, Qualified Investors and Retail Investors. It can also offer virtual asset margin Trading Services permitted to Institutional Investors and Qualified Investors under the VA Exchange License.
OKX can also offer crypto derivatives Trading Restricted to Institutional Investors and Qualified Investors for VA Derivatives Limited License.
In February 2024 OKX received its crypto exchange VASP license from Dubai UAE through VARA ( Virtual Asset Regulatory Authority), and then a license in Turkey. OKX TR, will provide Turkish users with a trusted, compliant and transparent gateway to crypto trading and decentralized finance. The OKX Web3 Wallet is currently available in Türkiye through OKX’s global platform.
Earlier this week, Bybit received its VASP license from VARA, which is currently not active until all requirements are met. Already global players like Binance, Crypto.com have received licenses in UAE as well.
UAE based OKX crypto exchange clarifies its new virtual asset standards prior to them being listed on its Middle East exchange as per Dubai’s Virtual Asset regulatory authority requirements.
OKX Middle East published the set of factors it will be utilizing when it evaluates virtual assets before listing them on its exchange.
According to the UAE based crypto exchange the standards have been prepared in accordance with Rule VIII.A.1 of the VARA market conduct rulebook, and are also available on OKX’s website in accordance with Rule VIII.A.3 of the VARA Market conduct rulebook.
OKX Middle East will asset the market metrics of virtual assets market capitalization, fully diluted value and liquidity and whether metrics have trended downwards over time.
It will also review the design system, such as features, use cases both intended and unintended by the issuer or relevant developers.
In terms of compliance, the crypto exchange will evaluate the virtual asset compliance features, regulations, rules or directives as well as AML/CFT sanctions, securities, and intellectual property.
It will also review how regulators are treating this virtual asset whether by VARA or other authorities outside of Dubai, including regulatory approvals
It will also review whether the virtual asset is prohibited by VARA or other regulators in or outside of the UAE.
OKX even goes as far as to asset the security and immutability of the DLT protocol on which the virtual asset is built.
Furthermore, OKX will evaluate whether the Virtual Asset may be susceptible to price manipulation for any reason and relevant mitigations that will be implemented by OKX. It will also investigate the background of issuer and whether it has been subject to any investigations or claims in relation to fraud or deceit.
OKX Middle East will finally monitor the terms and conditions of the Virtual Asset correlate with any physical market to ensure such terms and conditions conform to standards and practices in that physical market (if applicable).
OKX has been expanding its regulated operations in MENA with both a license from the Dubai UAE VARA as well as one in Turkey.
In 2023 and earlier this year in January, the UAE licensed in total 13 crypto exchanges and crypto brokers. This came at the backdrop of a more robust virtual asset regulatory ecosystem both in Dubai and Abu Dhabi, as well as a heightened awareness and interest in investing in crypto tokens, virtual assets, and digital assets.
The most important question to many who are either already investing and trading in crypto or who are just getting started is which crypto exchange or broker can serve me best. The article will look into each crypto exchange and compare them to offer a more transparent mirror of the licensed and regulated crypto exchanges in the UAE.
OKX:
Starting with OKX is mainly because it is the first global exchange to receive a virtual asset license to operate their crypto exchange in the UAE. OKX received the license in January 2024, yet is still not fully operational as it finalizes certain requirements requested by Dubai’s virtual asset regulatory authority VARA.
However when it does start, it will offer more than 350 crypto tokens. So other than the basic offering of trading tokens or trade pairs on the spot, margin and derivatives markets, it also offers managing of DeFi portfolios, buying and selling NFTs, earn crypto in our mining pools, and take out crypto collateralized loans.
But wait all these products are not available to UAE retail and institutional clients. So far, OKX’s approved suite of duly regulated virtual assets activities includes spot services and spot-pairs, via the OKX App and OKX.com exchange.
The UAE VASP License also allows OKX to offer AED deposits and withdrawals.
OKX also announced that it has developed its Arabic website to meet the needs of users in the MENA region.
Finally OKX is active on all social media platforms so engaging with the community is available through many channels.
The crypto exchange boasts of over 50 million users in more than 100 countries. It is currently seeking a license in Hong Kong.
CoinMENA
Next in line is homegrown Crypto broker CoinMENA, which is not only now licensed in the UAE but was also one of the first to be licensed in Bahrain. CoinMENA offers the major cryptocurrencies on its platform, 52 in total.
It is fully operational and is authorized to serve Institutional Investors, qualified Investors and retail Investors. It offers spot trading of crypto assets.
CoinMENA already is fully operational and has been serving customers in the GCC and MENA region through its Bahrain licensed entity.
In addition customers can deposit money directly via bank transfer or credit/debit card to a customer’s CoinMENA Wallet, as well as withdraw money from CoinMENA Wallet directly to a client’s bank account.
CoinMENA currently serves over 900,000 users supporting seven countries.
Recently CoinMENA expanded its family office, investor and institutional offering through a partnership with Onramp Bitcoin. Onramp is an international Bitcoin asset management company built on multi institutional custody.
Crypto Exchange
Regulatory Status
Presence in
OKX
Crypto Exchange
HongKong UAE
Fasset
crypto broker
UAE
CoinMENA
crypto broker
UAE Bahrain
GCEX
Institutional crypto Exchange
UAE Denmark UK
FUZE
Crypto broker
UAE
BackPack Exchange
crypto exchange
UAE
Toko
Crrypto exchange/broker
UAE
Laser Digital
Crypto Broker
UAE
RAIN
Crypto broker
UAE Bahrain
M2
Crypto exchange
UAE
Glomex
Institutional crypto exchange
UAE
Matrix
Institutional crypto exchange
UAE
Midchains
Institutional crypto exchange
UAE
Venomex
Institutional crypto Exchange
UAE
M2
M2 is a UAE Abu Dhabi Homegrown crypto exchange. It received its license back in November 2023 from ADGM. It was recognized as a fully regulated Multilateral Trading Facility (MTF) and Custodian and is now able to on-board UAE residents and institutional clients.
M2 offers spot trading and currently has 50 crypto tokens to choose from.
It will also be able to offer AED Fiat On/Off-Ramp: Allow the on/off ramp of AED with ease through its partnership with a local bank in the near future.
One of the strengths of M2 is that it is backed by strong investors, one of which is a Bitcoin mining conglomerate, Phoenix Group that helps M2 to offer its Bitcoin Earn Product. The product was launched in partnership with Phoenix crypto mining group and offers yields that reach up to 10.5%.
M2 has an equity investment of $300 million as well.
RAIN
RAIN crypto broker and exchange was the first crypto broker to receive a license in the MENA region. Its operations started in Bahrain and it is now licensed in the UAE through ADGM in Abu Dhabi.
On the landing page of RAIN the first thing a user sees is the 0% trading fee. RAIN offers 70 crypto tokens to trade with. RAIN also offers crypto swaps.
It also is able to offer AED Fiat On/Off-Ramp: Allow the on/off ramp of AED with ease through its partnership with UAE local banks.
Like most of the major exchanges it has a mobile application, and is present on most social media channels.
Fasset
In November 2023, Fasset received its crypto broker license from Dubai’s regulator VARA. This license follows Fasset’s launch in Indonesia in August, where it partnered with Mastercard Indonesia and telco giant Indosat Ooredoo Hutchison.
Fasset offers five crypto tokens to trade with.
On its website, unlike other crypto exchanges, Fasset states that it offers gold investments using blockchain technology, crypto staking and other products. How much of this they can offer with their license in VARA is not clear. But it would be a surprise if they could offer these with their current license.
Crypto Exchange
Maker Fee
Taker Fee
Currencies
Minimum deposit USD
Trade Limits
OKX
0.08%
0.10%
320
10
100,000 USDT
Fasset
0.10%
1.00%
5
35
1000
CoinMENA
0.75%
0.75%
52
10
No limits
GCEX
No
No
50
50,000
No Limits
FUZE
NA
NA
NA
NA
NA
BackPack Exchange
0.085%
0.095%
NA
NA
NA
Toko
NA
NA
NA
NA
NA
Laser Digital
NA
NA
NA
NA
NA
RAIN
0.15%
0.30%
70
20
No Limits
M2
0.02%
0.04%
30
50
NA
Glomex
NA
NA
NA
NA
NA
Matrix
0.10%
0.20%
7
50,000
No Limits
Midchains
0%
0.40%
17
NA
No limits
Venomex
NA
NA
NA
NA
NA
NA means not available on their website or other sources of information.
Other crypto exchanges
As for the rest of the crypto exchanges and brokers that serve retail and institutional clients and are licensed in UAE, they are Fuze, BackPack exchange, Toko and Laser Digital. These four were licensed by Dubai’s virtual asset authority, but have yet to populate their websites with clear information on their product offering, fees and other information.
Fuze is preparing to launch and its CEO refrained from sharing information until they do.
As for purely institutional investors they can work with the following crypto exchanges who only deal with institutional customers. These are GCEX where the minimum deposit is $50,000 offering 50 tokens.
According to GCEX Managing Director, Mehtap Onder, the exchange doesn’t charge its clients maker and taker fees but just a trading fee.
Then there is Matrix, who also has a minimum deposit of $50,000 but offers just 7 crypto tokens to trade and invest in.
Interestingly Venomex has no information on its fees and offering, and just states on its website, that it will communicate its fees and charges via a notice.
Conclusion
In conclusion, the UAE definitely now has an array of crypto exchanges and crypto brokers that can offer safe and secure means to trade and invest in crypto tokens. It is left up to customers to choose which one they feel more comfortable with, which one offers competitive fees and which ones offer the crypto assets they want to trade.
Users can choose between local, regional and global exchanges to work with. But the future will bring even more. As VARA recently announced, while the regulator awarded 19 regulated VASP licenses in 2023, with 11 already operational, it will be adding 72 more in the coming months.
This could mean that Binance will soon have a license to operate in UAE, as will ByBit, and Crypto.com among others.
As more crypto exchanges enter the UAE as regulated entities, competition will surely increase and this is always a good thing for clients and users, so be prepared.
