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Wednesday

28 July 2021

Crypto in the UAE. TRES Was Approved by DMCC for OTC Trade License to Operate With Cryptocurrency

Crypto in the UAE. TRES Was Approved by DMCC for OTC Trade License to Operate With Cryptocurrency


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Back in 2020, at the Davos Summit, the DMCC (UAE Free Economic Zone) announced a strategic partnership with CV VC and CV Labs to launch Crypto Valley, the world’s largest ecosystem of cryptography, blockchain and distributed ledger in Dubai.

Recently, the official opening of Crypto Valley in Dubai took place and active work began, the Swiss company TRES Group, the developer of SIMBA Storage, received a сrypto assets trading license for making over-the-counter transactions with cryptocurrencies in order to develop the crypto industry in the United Arab Emirates.

With a range of industry leaders at the Crypto Centre, progressive regulations set out by the Dubai authorities, and the pre-existing supportive framework set out by DMCC, we expect that Dubai will be the place that every crypto firm looks to for growth opportunities.

Crypto assets trading license is a huge step in the development and formation of the blockchain technology industry, business development, the influx of technological projects and startups, as well as the money supply for the country.

The trading in crypto assets license opens up opportunities for large institutional investors and banking structures in the crypto industry that were previously not available to them.

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