Yoshi Markets starts onboarding clients for crypto trading in the UAE

    05 Jun 2022

    Yoshi Markets Limited, the UAE-based multilateral trading facility (MTF) and custodian for virtual assets, has started onboarding clients on its platform. The Yoshi Markets platform will allow traders to open an account with the ADGM-regulated Virtual Assets MTF.

    As Arabian Business reported, the platform will allow customers to open a trading account directly with the regulated cryptocurrency exchange based in the UAE, rather than trading on unregulated platforms or through brokers.

    “We are proud to announce this major accomplishment as we have deployed best in class technology and processes to provide a superior trading experience to our customers,” Arshad Khan, Yoshi Markets founder and CEO, said, adding:

    “To make this experience even more rewarding for our customers, we will be soon announcing very exciting sign-up packages.”

    Initially, Yoshi Markets is onboarding clients before proceeding to launch the trading in a few virtual asset pairs, including Bitcoin and Ethereum. Additional trading pairs will be added at a later stage.

    Mustafa Kheriba, executive chairman at Yoshi Market, stated:

    “We are excited to be part of the cryptocurrency ecosystem in the United Arab Emirates, which has been thriving thanks to the continuous support by the local government and supervision by the Abu Dhabi Global Market.”

    “We believe this milestone will bring us closer to our goal, which is to offer regulated virtual assets trading and custody services to an enthusiastic retail and institutional base in the United Arab Emirates and beyond,” he said.

    Back in March, Yoshi Markets Limited received the Financial Services Permission (FSP) from ADGM’s Financial Services Regulatory Authority (FSRA), allowing it to operate as an MTF and custodian for virtual assets.

    As previously reported, US crypto exchange Kraken has become the second virtual asset platform after Binance to receive regulatory approval to operate in the Abu Dhabi Global Market (ADGM).

    Kraken has been granted a license to operate a regulated virtual assets platform in Abu Dhabi, UAE. The exchange will allow its users to invest, trade, and withdraw virtual assets directly in the United Arab Emirates dirhams (AED).

    Image Source: https://www.arabianbusiness.com/money/wealth/alternative-assets/yoshi-markets-onboarding-clients-for-crypto-trading

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