2 years ago
Swiss backstage slope Julius Baer (BAER) is expanding its crypto services to Dubai, Bloomberg reported connected Wednesday.
The Zurich-based slope volition use for a "digital assets licence variation" to supplement its existing regulatory permissions successful the emirate.
An enlargement would beryllium Julius Baer's archetypal for its crypto offering beyond its autochthonal Switzerland, wherever it has provided integer plus services since the commencement of 2020.
Dubai has attracted respective large crypto firms during the past year, including exchanges Binance and OKX. The constitution of its Virtual Asset Regulatory Authority (VARA) has helped marque the jurisdiction an charismatic alternate to countries similar the U.S., where determination is little regulatory clarity.
Julius Baer did not instantly respond to CoinDesk's petition for comment.
Edited by Sheldon Reback.
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