Cybersecurity
Dubai Trader Gets First Mideast License in Cryptocurrencies
- Regal RA will be able to store crypto-assets in vault at DMCC
- Regal started trading physical gold bullion in Dubai in 2016
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Dubai gold trader Regal RA DMCC is the first company in the Middle East to get a license to trade cryptocurrencies, the Dubai Multi Commodities Centre said.
The company will be able to store Bitcoin, Ethereum and other cryptocurrencies in a vault located in DMCC headquarters in Almas Tower in Dubai, the DMCC said in a statement. The vault won’t be connected to a network and all physical devices are fully insured for the crypto-commodities market value against theft, hacking or natural disaster, it said. Regal RA started trading gold in Dubai in 2016.