Dubai gold trader Regal RA DMCC is the first corporate in the Middle East to get a license to business cryptocurrencies, the Dubai Multi Commodities Centre mentioned.

The corporate will be offering garage of Bitcoin, Ethereum and different cryptocurrencies in a vault positioned in DMCC headquarters in Almas Tower in Dubai, the DMCC mentioned in a commentary. Regal RA began buying and selling gold in Dubai in 2016.

“At the heart of DMCC’s long term strategic growth plan is the use of technology and innovation to disrupt and connect new markets, industries and customers,” DMCC Executive Chairman Ahmed Bin Sulayem mentioned in the commentary. “The announcement today embodies this approach.”

Investors in cryptocurrencies are “reluctant” to retailer massive quantities of the cash in on-line wallets and exchanges because of the danger of hacking, determine robbery and malware, Tyler Gallagher, leader government officer of Regal Assets, which owns Regal RA, mentioned in the commentary. “We have developed what we believe is the number one most secure way of investing in Bitcoin, Ethereum and other crypto-commodities.”

Regal RA is operating on an internet buying and selling platform for the crypto-commodities, mentioned Ksenia Kiseleva, supervisor of the corporate’s Dubai place of job. “We look at them as a commodity not as a method of payment,” she mentioned. “There is growing demand in the U.A.E. and worldwide.”

Regal will observe for buying and selling licenses in different international locations around the globe, she mentioned. The DMCC license is the corporate’s first for crypto currencies/commodities. Regal Assets was once began in 2009, with headquarters in Waco, Texas.

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