Q9 Capital, a crypto-investment platform, received regulatory approval from Dubai’s Virtual Asset Regulatory Authority. (VARA), it announced.
The company plans to expand its business and seeks to acquire an operating license.
Q9 is a company that aims to “make a meaningful contribution” to the VARA ecosystem, as an engine for creating and executing crypto products in a regulated environment.
VARA is the world’s first independent regulator for virtual assets.
Investors can now create and execute strategies and products on Q9’s platform after approval. Furthermore, investors can build and access systematic investment portfolios and white-labelled offerings within VARA’s framework. The company stated that global distribution of these portfolios or offerings will be “automated”, transparent, regulated, compliant and controlled.
Q9 Capital, a platform for crypto investment management, helps tradeFi and crypto firms “expand their offerings and distribute innovative products. It also simplifies operations for enhanced innovation.”
Investors can build, customize, and fully automate their portfolios using the company’s management software. This is possible by accessing all the market and using a broad product range.
Q9, which has been granted a full operating permit in Dubai, will have access to its key features. These features are designed to assist crypto and TradeFi companies by providing products and services to qualified investors.
Q9 will also establish a regional hub at Dubai to help it expand its operations in the region as well as globally.
Apart from Dubai, Hong Kong and Dubai have also been approved for provisional registrations.
According to BlockchainAccording to.News Dubai is one of the most influential gulf countries.
Although some state actors might see it as a threat to their security, others are taking advantage of the opportunities it offers. Dubai stands out as one of them, given the number of licenses that have been granted to cryptocurrency exchanges.
Other than Q9, Q9 has also been granted permission to operate in Dubai. OKX, a crypto trading platform, was also given permission.
The crypto trading platform announced that the Dubai Virtual Assets Regulatory Authority granted it a provisional license for virtual assets (VA), which will allow it to offer specific crypto products to qualified investors.
Binance and Huobi, in addition to OKX, have also obtained related licenses for operation in Dubai. This is more than just for the good of the exchanges. The people will also be able to choose from a wide range of payment options. Meanwhile, the government can generate tax revenue.
Besides its role as one of the world’s most visited tourist locations, Dubai aims to become the financial epicentre of the Middle East, then the world. The bullish nature VARA can be attributed to Dubai’s growth in digital assets, but it is likely that Dubai will become the most sought-after rallying place for crypto exchanges in near future.
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