United

Read

Dubai

<div class="cryptonews">
 <p class="is-style-lead">The “market neutral trading firm” named Dubai for its global headquarters as the region experiences an influx of <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> companies seeking new users.</p>
 <p>Nine Blocks Capital Management FZE bagged a <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> license from Dubai’s Virtual Assets Regulatory Authority (VARA), making Nine Blocks the first digital asset <a rel="noopener noreferrer nofollow" title="hedge" href="https://thebittimes.com/tag/hedge.html">hedge</a> fund to win VARA’s nod according to a Nov. 27 announcement.</p>
 <p>The license will allow Nine Blocks to offer virtual asset services to <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> users in Dubai, including digital asset management and investment products. Additionally, the firm plans to open a global head office in what is largely regarded as the primary international hub for the United Arab Emirates.&nbsp;</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Dubai offering 90% license fee discount to web3 projects
 </div>
 <blockquote class="wp-block-quote">
  <p>This license is the culmination of a process that started with an MOU between Nine Blocks and VARA, allowing knowledge sharing and consultation.</p> <cite>Nine Blocks press statement</cite>
 </blockquote>
 <p>Nine Blocks is a self-professed “neutral trading shop” established in 2021 with a profit generation model that relies on relative value, arbitrage and quantitative strategies applicable to <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> markets.</p>
 <p>The firm announced its foothold in Dubai during a time of regulatory unclarity in the U.S. and a shift in crypto’s focus to more friendly jurisdictions. Dubai declared its plans to become a global crypto hub in 2022 and followed up talks with VARA’s rulebook for digital asset operators.</p>
 <p>Several firms such as Binance, crypto.com, Hex Trust and OKX have emerged as beneficiaries of Dubai’s crypto licensing regime, gaining approval to set up shop in the region and service customers.</p>
 <p>Amid a VARA leadership change and strict enforcement of compliance, Dubai has also garnered tokenization interest with companies like Deutsche-backed Taurus eying intersections between real estate markets and blockchain technology.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Dubai’s VARA sets licensing deadline for crypto firms
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/nine-blocks-becomes-first-crypto-hedge-fund-approved-by-dubai-s-vara-tbt71806.html">https://thebittimes.com/nine-blocks-becomes-first-crypto-hedge-fund-approved-by-dubai-s-vara-tbt71806.html</a></p>

Nine Blocks becomes first crypto hedge fund approved by Dubai’s VARA

TheBitTimes

2023년 11월 27일에 게재된 다른 기사

More Wait For Bitcoin Break! BTC Price Struggles To Cross $38K!

Hong Kong to retain grace period for crypto firms despite recent scandals

Understanding the Current Ethereum Market: Price Movements and Predictions

Bitcoin Price Has Odds to Hit $47,360 If This Scenario Plays Out: Analyst

Slayboy Token, Tron, & Polygon: Your Crypto Market Combo For 100x Return

A Bullish Fightback Teases 35% Hike In AXS Price Next Month!

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!