Web-3 ecosystem called Fastex, developed by SoftConstruct, is starting to actively expand its presence in the Middle East, with initial approval from the Virtual Assets Regulatory Authority of Dubai (VARA).
This step, according to representatives of SoftConstruct, is an important achievement for the company, which seeks to gain new prospects in global markets.
Fastex Co-Founder Vigen Badalyan commented:
“The approval is a big accomplishment for Fastex. It is a step forward for the company to expand its reach in the Middle East and share the latest innovations in virtual assets.
“We aim to provide the best platform in the Web3 landscape and VARA’s approval allows us to move forward and achieve results. We are honoured to receive this initial approval from VARA.
“It is a testament to the hard work and dedication of our team, and it reinforces our vision of creating a seamless and reliable ecosystem for our users.”
The obtained permission does not allow Fastex to conduct operations with virtual assets anywhere outside Dubai.
However, the company stressed that this is a significant first step towards obtaining a full regulatory licence.
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