Cryptocurrency exchange FTX plans regional HQ in Dubai after securing license: Bloomberg

Cryptocurrency exchange FTX on Monday received a digital asset license in Dubai and is planning to develop a regional headquarters in the city, Bloomberg reported. Keep in mind the United Arab Emirates is the third-largest crypto market in the Middle East, Bloomberg highlighted, citing data from Chainalysis as of June 2021. A division of FTX operating in Europe and the Middle East, FTX Europe, will offer “complex crypto-derivatives products with centralized counterparty clearing to institutional markets,” Bloomberg reported, citing FTX CEO Sam Bankman-Fried in a statement. The move came after Binance, the world's largest digital asset exchange, also got a crypto license in Dubai under the same program, a person familiar with the matter told Bloomberg. And with the UAE aiming to attract large crypto and fintech firms, “the certainty and credibility that Dubai assures in its adherence to these commitments allows FTX to safely pursue its overall strategy of scaling towards becoming