Q9 Capital gets crypto investment licence in Dubai

abdelaziz Fathi

Crypto investment platform Q9 Capital has secured a provisional virtual assets licence to operate in Dubai. The Hong Kong-headquartered firm has obtained the approval from Dubai’s Virtual Assets Regulatory Authority (Vara).

Founded in 2020, Q9 Capital offers an Auto-Invest package to deliver systematic investment strategies to the crypto market and address the growing demand for convenient portfolio management. The solution includes a savings plan that helps clients accumulate digital assets over the long term and put their crypto investing on autopilot.

Q9 made a splash in Hong Kong by supporting digital artists and collectors operating on blockchain-driven platforms in its home city, including the use of non-fungible tokens, or NFTs.

James Quinn, a managing partner at Q9, said the approval will allow the company to promote its investment engine and white-labeled solutions which enable asset managers to create, execute, manage, and report digital asset investment strategies through a single UI. But to access the retail market, Q9 will be progressively monitored in stages alongside all licensed VARA service providers.

“We look forward to participating in the authority’s robust compliance framework and continue building partnerships as we expand our presence in Dubai to roll out additional services and enhanced products for the region,” he added.

The in-principal approval allows Q9 to conduct a spectrum of virtual assets business under the initial regulatory phase of VARA, which serves as the single custodial entity mandated to license and govern crypto activities in Dubai. This includes offering exchange products and services to pre-qualified investors and professional financial service providers under strict oversight and mandatory FATF compliance controls.

Q9’s regulatory foray into Dubai is not surprising. After all, the emirate has one of the most progressive climates for digital assets in the world. In fact, the move was the latest in a string of approvals secured by top crypto platforms as Dubai pushes to become the regional hub for the digital asset sector.

Notably, the UAE was the first global economy to have set up a specialised regulator for the virtual asset sector. Announced by the UAE’s Prime Minister and ruler of Dubai, Sheikh Mohammed Bin Rashid, the emirate has enacted its first law governing cryptocurrency activities, and it has also formed an independent regulator to supervise the sector.

Read this next

Digital Assets

Ethereum-Based Tokenized Real Estate Platform USP Launches On Republic

How This Californian Startup Is Revolutionizing Real Estate Investment through Ethereum-Based Tokenization.

Digital Assets

Sui Spikes in Weekly DEX Volume, Joins Top 10 of All Blockchains

March DEX volume on Sui stands at over $2.88B – up more than 49% from February – with decentralized exchange Cetus and wholesale liquidity layer DeepBook leading.

Digital Assets

Prisma Finance suffers $10 million crypto exploit, attack ongoing

Liquid staking protocol Prisma Finance fell victim to a security exploit on March 28, resulting in nearly $10 million in Prisma mkUSD and wrapped stETH being stolen by hackers.

Digital Assets

Masa and LayerZero: Bridging Blockchains for Data Sovereignty

Masa Network is poised to revolutionize the personal data landscape with its upcoming launch as a cross-chain platform, making it accessible on a variety of blockchains right from the start.

Digital Assets

Big Time Generates over $100M in Revenue since Preseason

Innovative game developer Big Time Studios announces that its highly anticipated free-to-play multiplayer action/MMO RPG Big Time, has generated $100M in revenue. According to the team, players transacted a total volume of over $230M, without selling a single token.

Digital Assets

Centralized exchanges are 10 times more popular than DEXs in Western Europe

Western European traders are found to prefer centralized exchanges over decentralized ones as CEX traffic outpaces DEXs by a factor of ten.

Market News

Stock Market Analysis: Is NVDA Losing Its Leadership?

Since the beginning of the week, the S&P 500 Index (US500) has seen a modest increase of about 0.58%, whereas NVDA’s share price has experienced a decline of approximately 3.8%. This recent divergence raises concerns among Nvidia stock investors — could it signify a loss of NVDA’s market leadership?

Industry News

ESG: Australian regulator wins first greenwashing court case against Vanguard

Vanguard admitted that a notable portion of the securities within both the Index and the Fund did not undergo the promised ESG scrutiny.

Fintech, Uncategorized

BitMEX integrates HALO from Solidus Labs for cross-market surveillance

“The recent approval of the Spot Bitcoin ETF has piqued the market’s interest. As a result of price volatility, the trading volumes for crypto derivatives have gone up substantially. HALO, with its advanced technology and crypto-native detection architecture, will enable BitMEX to smoothly and safely scale trade surveillance across its increased trading volumes and provide the necessary safeguards for new product launches.”

<