Regulatory approval from Dubai authorities to provide virtual asset services
The crypto investment platform “Q9 Capital” has obtained regulatory approval for a temporary virtual asset from the Virtual Asset Regulatory Authority (VARA) in Dubai, the company announced, and what was also stated in its statement:
Entry into the UAE is part of the company's expansion efforts and aims to obtain a full operating license in accordance with VARA requirements.
The company added:
Q9 aims to make a meaningful contribution to the VARA ecosystem as a driver for creating and implementing crypto products in a regulated environment.
Notably, VARA is the world's first independent regulator for virtual assets.
After approval, investors can create and implement products and strategies on the Q9 platform.
Investors can also build and access regular investment portfolios and white label offerings that are documented within the VARA framework.
The company said that the global distribution of these portfolios and offers will take place in an automated, transparent, regulated and compliant manner.
For your information, Q9 Capital is a cryptocurrency investment management platform that helps crypto companies expand their offerings, distribute innovative products, and streamline processes in order to foster innovation.
The company's management system allows investors to build, customize and automate fully systematic portfolios.
They can do this by using a wide range of products and at the same time entering the entire market.
In Dubai and after winning a full operating license, Q9 will gain access to operate its key features to help Crypto and TradeFi businesses by extending products and services to qualified investors and financial service providers.
Furthermore, Q9 plans to establish a regional hub in Dubai to expand and develop its business in the region and globally.
Dubai is one of the most active regions among the Gulf countries.
While many government actors may view the crypto market as a threat, many entities in Dubai are embracing the opportunities that the crypto market brings.
Besides Q9, other crypto companies, such as cryptocurrency exchange OKX, have also been given the green light to operate in Dubai as well as Binance and Huobi.
