OKX has become the first global cryptocurrency exchange to offer regulated derivatives trading to retail investors in the United Arab Emirates under Dubai's Virtual Assets Regulatory Authority (VARA) pilot framework. The launch includes Bitcoin (BTC) and Ethereum (ETH) futures, perpetual contracts, and options with up to 5x leverage.
Rifad Mahasneh, CEO of OKX MENA, stated: "This represents a pivotal moment for both OKX and the UAE's broader digital asset ecosystem. By launching the first fully regulated retail derivatives offering in the UAE, we are reinforcing our long-term commitment to responsible innovation and regulatory alignment." The products mark a significant shift in UAE's regulatory landscape, previously restricting such sophisticated instruments to institutional traders only.
The initiative aligns with Dubai's ambition to become a global crypto hub and supports the UAE's economic diversification strategy. OKX underwent stringent VARA compliance requirements, implementing robust KYC/AML procedures and risk disclosures. While initially focused on BTC and ETH, the framework allows potential expansion to other major cryptocurrencies pending regulatory approvals.