Bithumb Plans To Launch UAE Crypto Exchange
Major South Korean crypto exchange- Bithumb- has signed a memorandum of understanding with United Arab Emirates (UAE) company Nvelop to develop a crypto exchange in the UAE, Coindesk reported.
According to Coindesk, Bithumb is planning to use the collaboration with Nvelop as a launch pad for making a foray into the Middle East and Africa.
Coindesk also shared that the UAE's Financial Services Regulatory Authority is scheduled to issue crypto exchange licences in the first half of 2019, and Bithumb is targeting mid-2019 to commence operations for its UAE crypto exchange if its licence application is approved.
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