Crypto Fund Firm Fintonia Group Receives Virtual-asset License in Dubai

Singapore-based crypto fund firm Fintonia Group has received a provisional virtual-asset license from the Dubai authority.

The company plans to expand its operations in the UAE and expand its team in Dubai, hoping to establish a foothold in the emerging UAE market. The latest license allows the company to offer crypto products and services to institutional clients in Dubai.

Fintonia Group is an entrepreneurial financial services firm providing funds management, wealth management and merchant banking solutions to institutional clients and entrepreneurs.

The firm currently offers collateral-backed loans and two institutional-grade bitcoin funds to investors in Singapore.

Fintonia Group founder Adrian Chng said: "Dubai is making significant strides towards establishing itself as a virtual assets hub and creating a conducive license environment for the industry's growth, and we are very pleased to be part of this rapid growth.”

Just a few days ago, Cryptocurrency platform OKX (formerly known as OKEx) received a provisional virtual-asset license from the Dubai authority. The exchange plans to set up a regional hub in the city.

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