RAK ICC Launches Digital Assets Oasis- Freezone for Digital and Virtual Asset Firms
The UAE has been actively developing strategies to support the growth of the crypto industry in recent years. The country has launched several initiatives to attract blockchain and crypto startups to the region, including the Dubai Blockchain Strategy and the Dubai Future Accelerators program.
In addition, the UAE has established regulatory frameworks to provide clarity and security for investors and businesses operating in the crypto space. The recent launch of the RAK ICC Digital Assets Oasis is another example of the UAE's commitment to supporting the crypto industry, providing a secure and regulated platform for the trading and management of digital assets.
The Digital Assets Oasis (DAO), the world’s first free zone dedicated to digital and virtual asset companies, is a significant step forward for the crypto firms committed to providing innovative solutions to meet the clients' requirements. Moreover, RAK International Corporate Centre (RAK ICC) is one of the world's fastest-growing offshore company registration centres known for its strict regulatory compliance.
The DAO offers a fully regulated platform that allows individuals and companies to securely trade, store, and manage digital assets such as cryptocurrencies, security tokens, and non-fungible tokens (NFTs). The platform is built on top of RAK ICC's existing regulatory framework, which provides a high level of security and compliance for users, providing a secure and transparent ecosystem for digital asset creation, issuance, and management. It operates on the Ethereum blockchain, utilizing smart contracts to facilitate the creation and management of digital assets. The platform enables users to create tokens, establish governance structures, and execute transactions securely and transparently.
The DAO will offer a range of services, including custody, trading, and management of digital assets. The platform will also provide access to liquidity providers, enabling users to trade digital assets quickly and efficiently. In addition, the platform will offer a range of security features, including multi-factor authentication and advanced encryption, to ensure the safety of users' assets.
One of the vital features of RAK DAO is its ability to provide a regulatory-compliant framework for digital asset issuance and management. The platform allows users to comply with regulations and ensure transparency by implementing Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. In addition, it also provides a marketplace where users can trade digital assets. The platform facilitates secure and transparent transactions by utilizing a decentralized exchange (DEX), which eliminates the need for intermediaries.
The launch of Digital Asset Oasis is expected to attract new businesses and startups to the region. It provides a secure and regulated digital asset issuance and management ecosystem, establishing the UAE as a leading blockchain and cryptocurrency innovation hub.
RAK Digital Assets Oasis is envisioned as a remote-work friendly and internationally connected hub where digital and virtual asset companies can thrive. These companies will focus on crafting innovative business models that are tailored for the future and strategically positioned to leverage the potential of the region's emerging markets.
In conclusion, launching the DAO is a significant development for the digital asset management industry. With its focus on compliance and security, the initiative is poised to become a key player in the digital asset management industry.
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