MultiBank Group's MEX Digital Secures VASP License in Dubai

Dubai-based MultiBank Group has announced the launch of its subsidiary, MEX Digital FZE, which has secured a license from the Virtual Assets Regulatory Authority (VARA). The new license allows MEX Digital to operate as a broker-dealer and exchange for virtual assets, further strengthening its position as a Virtual Assets Service Provider (VASP) in the region.

Naser Taher, Chairman of MultiBank Group, emphasized the significance of this milestone, stating, "This development strengthens our dedication to creating a secure and transparent environment for the global cryptocurrency community." He also highlighted the company's long-term vision to integrate financial derivatives markets with crypto markets, reflecting the company's continued evolution from a traditional Forex broker to a prominent player in the crypto economy.

At this stage, MEX Digital's services will not include derivatives but will focus on offering broker-dealer and virtual asset exchange services under the new regulatory framework.