UAE Venom Blockchain now has its own Virtual asset Exchange, Venomex

 

UAE based Venom Blockchain which recently received a license from ADGM ( Abu Dhabi Global Market)  in early October 2022, now has a regulated virtual asset exchange on its roster, Yoshi Markets,  renamed to Venomex.

In March 2022, Yoshi Markets previously known as Arabian Bourse Limited (ABX), received the Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). The FSP allowed Yoshi Markets to operate as a Multilateral Trading Facility (MTF) and Custodian for virtual assets.

Now Yoshi Markets has renamed itself to Venomex, reflecting the recently approved Venom Blockchain platform, which will allow the provisioning of virtual assets and blockchain based services. Venom blockchain is building the first NFT marketplace in the UAE from ADGM as well as the issuance of first fiat backed stablecoin.

Mustafa Kheriba, the Executive Chairman of Venomex, stated, “This is an exciting time for us at Venomex. The new name and brand will further position Venomex as an entity that aims to harness the potential of Virtual Assets and Blockchain in a much more impactful manner. With the new name, we plan to unveil services that will have multi-faceted use cases and benefits for our customers and strategic partners alike.”

Arshad Khan, CEO of Venomex, added, “We are extremely happy to announce the new name. As the Virtual Assets landscape is shaping up in the UAE, owing to the clarity of regulations and emergence of multiple ventures in this space, we see the rebranding initiative as the first step towards becoming an end-to-end ecosystem player. I would like to thank the Venomex shareholders and the FSRA for their continuous support and guidance.”

 

Venomex Limited is a Multilateral Trading Facility (MTF) and Custodian, based in Abu Dhabi Global Market (ADGM) and has received FSP from Financial Services Regulatory Authority of ADGM. As a virtual asset MTF and Custodian, Venomex aims to be a preferred venue for virtual assets listing, trading, settlement and custody and will offer a fully integrated ecosystem to institutional, HNI and retail investors.