Crypto Investment Company Q9 Received Provisional Approval To Operate In Dubai
Q9 Capital, a Hong Kong-based crypto investment platform, has gained provisional virtual asset authorization from Dubai’s Virtual Asset Regulatory Authority (VARA). The firm announced its expansion to the United Arab Emirates and sought a complete operating license.
Q9 will build a regional center in Dubai and begin delivering services to eligible investors and financial service providers once it gets a complete operating license, according to a press statement on October 27.
VARA’s interim approval allows the crypto platform to legally establish offices and provide digital asset exchange services to pre-qualified investors and financial organizations. Q9 now has offices in Hong Kong, London, and Limassol.
James Quinn, a managing partner at Q9, stated:
“Dubai’s Virtual Assets Regulatory Authority is a testament to the country’s forward-looking stance on digital assets and its willingness to support the industry through collaboration.
We look forward to participating in the authority’s robust compliance framework and continue building partnerships as we expand our presence in Dubai to roll out additional services and enhanced products for the region.”
Binance reached the next step in September, receiving a Minimal Viable Product license. Since receiving preliminary clearance from VARA in March, the world’s largest crypto exchange has taken almost six months to obtain the license.
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