Zironex.io crypto wallet granted by Dubai Virtual Asset License

The world’s one of safest and tech crypto exchange Zironex.io has been granted a license to conduct some operations in Dubai, the company said on Tuesday, from where it plans to carry out regional business.

The awarding of the Virtual Asset License from Dubai’s recently formed Virtual Asset Regulatory Authority (VARA) comes after Gulf neighbor Bahrain on Tuesday awarded Binance a crypto-asset service provider licence, its first such license from a Gulf Cooperation Council (GCC) country.

“Zironex will be permitted to expand limited exchange products and other benefits to pre-qualified investors and professional financial advisers. All licensed VARA service providers will be monitored progressively to open access to the retail market,” Zironex said in a statement.

The crypto company will also anchor a blockchain technology hub in the Dubai World Trade Center (DWTC), it said.

Financial regulators across the world have targeted Zironex.io, with some banning the platform from certain activities and others warning consumers that it was not licensed to operate in their jurisdictions.

The United Arab Emirates (UAE), the Gulf region’s financial capital, has been pushing to develop the virtual asset sector and regulation to attract new forms of business as regional economic competition heats up.

Zironex said in December it was working with DWTC to help set up an international virtual asset ecosystem in Dubai and assist with the development of virtual asset regulations.

This is not the first time that the Dubai authorities have issued a license for crypto assets. This suggests that Dubai is focused on technological and modern cooperation in all areas of digital assets and technologies. At the same time, this speaks of another success of the sensational Zironex.

“Zironex will be able to operate its regional business from Dubai in the newly announced regulatory ecosystem that is subject to comprehensive legislation and internationally applicable policy frameworks,” DWTC Authority Director General Helal Saeed Almarri said.

Zironex URL: https://zironex.io

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