It was recently announced that MetaTdex has successfully completed the compliance review in Dubai and has obtained the Dubai DMCC trading license. This means that MetaTdex's exchange behavior in Dubai will be fully legal and compliant, providing policy protection so that users can participate in Web 3.0 finance.
DMCC is an independent government organization, which exercises supervision and management functions on enterprises such as trade, operation, investment behavior, and financial products in accordance with the law. As the regulator of Dubai's banking, securities, foreign exchange, and other important parts of Dubai's financial system, DMCC is an important part of Dubai's financial system. DMCC's regulatory licenses are divided into three categories: trading licenses, service licenses, and industrial licenses. MetaTdex has obtained the trading license ( No.DMCC-870791 ), which means that it has obtained the authority to provide all encrypted digital asset exchange services in Dubai, including BTC(Bitcoin), ETH(Ether), USDT (USDT token), and more.
MetaTdex is the first decentralized exchange to obtain a license from Dubai's DMCC. They provide comprehensive reviews of the exchanges' business model, organizational structure, product categories, financial forecasts, and security before granting them a license. The issuance of a license by a government body like Dubai's DMCC reflects their open Web3.0 economic atmosphere and new gospel for those in the encryption industry in Dubai, or even the Middle East.
MetaTdex is one of the leading decentralized exchanges in the world and its product models include exchanges, wallets, pledge mining, transaction mining, turbo U treasure, and more. At present, their daily transactions have surpassed 25 million US dollars, and more than 300000 traders from 49 countries participate. It is expanding rapidly at a rate of 20% per month. However, after more and more countries join the MetaTdex ecosystem, compliance becomes increasingly important as regulatory requirements are different in different regions.
MetaTdex established an operation center in Dubai in August of 2022, which allowed MetaTdex to raise its compliance level, and start providing several licenses such as a US MSB license, MTL license, Dubai DMCC license, VARA license, and DIFC license. In just 4 months' time since moving into the new office, we have successfully obtained both a US MSB and Dubai DMCC license. We're continuously strengthening our compliance moat by acquiring several licenses on a global scale.
At present, while MetaTdex is rapidly advancing the application for licenses such as Dubai MTL, VARA, DIFC, ADGM, etc., it is also opening up the connection between cryptocurrency and traditional stock markets, allowing users to enjoy more benefits in a compliant and secure Web3.0 finance environment.