Do merchants registered in Dubai OKX need guarantees

OKX, a Seychelles-registered company, has implemented various security measures but is not legally required to provide guarantees to Dubai merchants due to its unregulated status by the DFSA.

Oct 31, 2024 at 07:01 pm

Do merchants registered in Dubai OKX need guarantees?

1. OKX is a Seychelles registered company, and as it is not regulated by the Dubai Financial Services Authority (DFSA), it is not required to provide guarantees to merchants registered in Dubai.

2. However, OKX has a number of security measures in place to protect its users, including:

   1. Two-factor authentication
   2. SSL encryption
   3. Cold storage for digital assets
   4. A bug bounty program
3. OKX is also a member of the Blockchain Association of the United Arab Emirates (BA UAE), which is a self-regulatory organization that promotes transparency and ethical conduct in the blockchain industry in the United Arab Emirates.
4. In addition, OKX has a number of partnerships with reputable companies in the United Arab Emirates, including the Dubai Multi Commodities Centre (DMCC) and the Abu Dhabi Global Market (ADGM).
5. These partnerships help to ensure that OKX is compliant with local regulations and that its users are protected.
6. Overall, while OKX is not required to provide guarantees to merchants registered in Dubai, it has a number of security measures in place to protect its users and is committed to compliance with local regulations.