OKX has launched a cryptocurrency exchange in Dubai offering trading in UAE dirhams, making it the first platform of its kind in the region.

AED Trading and Banking Integration on OKX

Users in the UAE can now trade directly with AED on OKX’s new platform. OKX Middle East GM Rifad Mahasneh stated that the company is now the first major licensed global exchange serving both retail and institutional clients in the UAE. The main trading pairs are BTC/AED, ETH/AED, and USDT/AED. Users can deposit and withdraw AED through local UAE bank accounts fully integrated with Zand Bank.

Institutional Access and Derivatives Trading

OKX’s platform provides access to derivatives trading exclusively for qualified traders and institutional investors who meet certain criteria. Retail investors must pass a knowledge test, suitability assessment, and provide evidence of holding 500,000 dirhams to qualify for trading these high-risk products. Institutional investors face strict liquidity requirements, including a minimum $20 million balance sheet, $40 million annual revenue, or $2 million in liquid funds.

Dubai as a Growing Global Crypto Hub

With a favorable regulatory environment and strategic location, Dubai is rapidly becoming a global hub for cryptocurrency and blockchain innovation. OKX’s presence in the UAE, among other developments, can help the country solidify its position in the blockchain and crypto industry.

OKX's launch in Dubai strengthens the city's status as a hub for cryptocurrency and blockchain innovation, offering users a new level of service and unique opportunities.