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Winklevoss-led crypto exchange Gemini announced that it has started the process of obtaining a crypto license to serve customers based in the United Arab Emirates (UAE).
As part of its global expansion plans, Gemini revealed it is engaging with stakeholders across the region to learn more about local regulatory requirements and the needs of UAE crypto investors.
In other exchange-related news, Crypto.com said it has secured a major payment institution license for Digital Payment Token (DPT) services from the Monetary Authority of Singapore (MAS).
Double down on Gemini UAE appearance
Blog post of crypto exchange Cited Its 2022 Global State of Crypto report, which found that more than 35% of those surveyed in the UAE had purchased crypto, compared to only 20% in the US.
Around 32% of non-owners in the UAE said they might buy digital assets in the next year. Meanwhile, 33% of crypto users in the UAE make in-person purchases with their tokens at brick-and-mortar retailers, compared to only 19% of owners globally.
“Our application is our first step towards providing a safe, secure and easy-to-use platform for customers in the UAE and beyond to engage with crypto. Amazing awaits.
Speaking to the local media, Zavya, during her UAE visit, co-founder reiterated His frustration over the regulatory environment in the US. Cameron Winklevoss touched on the lack of clarity and consistency in the US regarding the regulation of digital assets and added,
“It’s really counterproductive for crypto companies. To keep building, to innovate, it’s not going to happen. There’s a lot of headwinds. It’s hard to operate in America.”
Crypto Exchange Seeks Global Expansion
In recent months, Gemini announced plans to set up a new engineering hub in Gurgaon, India. It also launched a non-US derivatives platform last month amid regulatory headwinds back home. Several other crypto exchanges, including San Francisco-based Coinbase, have also broadened their user bases elsewhere in response to a growing crackdown by US regulators.
Elsewhere, Singapore-based cryptocurrency exchange Crypto.com was given A Major Payment Institution (MPI) licensed by the Monetary Authority of Singapore (MAS) for Digital Payment Token (DPT) services. The license authorizes Crypto.com to provide its DPT services to customers in the city-state.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
[ad_1]
Winklevoss-led crypto exchange Gemini announced that it has started the process of obtaining a crypto license to serve customers based in the United Arab Emirates (UAE).
As part of its global expansion plans, Gemini revealed it is engaging with stakeholders across the region to learn more about local regulatory requirements and the needs of UAE crypto investors.
In other exchange-related news, Crypto.com said it has secured a major payment institution license for Digital Payment Token (DPT) services from the Monetary Authority of Singapore (MAS).
Double down on Gemini UAE appearance
Blog post of crypto exchange Cited Its 2022 Global State of Crypto report, which found that more than 35% of those surveyed in the UAE had purchased crypto, compared to only 20% in the US.
Around 32% of non-owners in the UAE said they might buy digital assets in the next year. Meanwhile, 33% of crypto users in the UAE make in-person purchases with their tokens at brick-and-mortar retailers, compared to only 19% of owners globally.
“Our application is our first step towards providing a safe, secure and easy-to-use platform for customers in the UAE and beyond to engage with crypto. Amazing awaits.
Speaking to the local media, Zavya, during her UAE visit, co-founder reiterated His frustration over the regulatory environment in the US. Cameron Winklevoss touched on the lack of clarity and consistency in the US regarding the regulation of digital assets and added,
“It’s really counterproductive for crypto companies. To keep building, to innovate, it’s not going to happen. There’s a lot of headwinds. It’s hard to operate in America.”
Crypto Exchange Seeks Global Expansion
In recent months, Gemini announced plans to set up a new engineering hub in Gurgaon, India. It also launched a non-US derivatives platform last month amid regulatory headwinds back home. Several other crypto exchanges, including San Francisco-based Coinbase, have also broadened their user bases elsewhere in response to a growing crackdown by US regulators.
Elsewhere, Singapore-based cryptocurrency exchange Crypto.com was given A Major Payment Institution (MPI) licensed by the Monetary Authority of Singapore (MAS) for Digital Payment Token (DPT) services. The license authorizes Crypto.com to provide its DPT services to customers in the city-state.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
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