close-icon
close-icon

MultiBank.io App

The fastest way to buy crypto

Public Disclosure

MEX Digital FZE Virtual Asset Standards  

 

At MEX Digital FZE, part of the esteemed MultiBank Group known as the world's most regulated financial broker with over 14 licenses, we place a paramount emphasis on regulatory compliance within our virtual assets' operations. Our dedication to upholding the highest standards of customer trust and security is reflected in our alignment with the Virtual Asset (VA) Standards mandated by UAE regulatory authorities. 

 

In the vein of MultiBank Group’s esteemed reputation for regulatory adherence, MEX extends this legacy to the dynamic world of virtual assets. We engage in a comprehensive analysis of market capitalization, which is critical in understanding the value and popularity dynamics of various virtual assets. This analysis, coupled with vigilant monitoring of liquidity trends and market stability, is central to our compliance strategy. 

 

Furthermore, MEX takes a proactive approach in reviewing the design, features, and intended use cases of virtual assets. This thorough review process ensures full compliance with the pertinent laws and regulations, particularly in areas concerning Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT), sanctions, securities, and intellectual property. Our rigorous procedures and adherence to these standards underscore our commitment to maintaining the highest level of compliance in our virtual asset operations, carrying forward the legacy of the MultiBank Group in this new and evolving digital asset landscape. 

 

MEX also evaluates the regulatory stance of VARA and other authorities, including any approvals for virtual asset issuance. We are vigilant about adhering to prohibitions and avoiding potential conflicts of interest in the jurisdictions we operate. 

 

Security protocols for the DLT protocol are a priority, as well as considering the development trajectory as outlined by issuers and developers. MEX actively mitigates risks associated with price manipulation and evaluates potential conflicts of interest in providing virtual asset activities. 

 

The background of issuers, their experience in the virtual asset sector, and any previous legal complications are thoroughly vetted. Represented rights and asset availability for obligations related to virtual asset activities are ensured. MEX’s terms and conditions mirror the operations of any underlying physical market where applicable and are regularly reviewed for compliance. 

 

By adhering to these standards, MEX offers a secure and transparent virtual asset trading platform, committed to ongoing compliance and process enhancement. 

For detailed information, please see the VA Standards rules, Part VIII of VARA Market Conduct Rulebook. 

 

Risk Disclosure for Virtual Assets: 

 

Users are advised to carefully review and consider the following points: 

 

  • Value Volatility: Virtual Assets are inherently volatile and may experience fluctuations in value, both partial and complete. Users should be aware that market conditions can lead to sudden and substantial changes in asset prices. 

  • Transferability: Virtual Assets may not always be transferable, and some transactions may be irreversible. Users should exercise caution and verify transaction details before initiating transfers. 

  • Liquidity Risk: Virtual Assets may not possess high liquidity, meaning users might encounter challenges in quickly converting their assets to cash or other forms of value. This lack of liquidity can impact the ease of buying or selling Virtual Assets. 

  • Transaction Transparency: Certain transactions involving Virtual Assets may not be private and could be recorded on public Distributed Ledger Technologies (DLTs). Users should be mindful of the public nature of some transactions and the potential implications for privacy. 

  • Security Concerns: Virtual Assets are susceptible to fraud, manipulation, theft, and various targeted schemes, including hacks. Users should be aware of the risks associated with unauthorized access to their assets and take appropriate measures to secure their accounts.
     

Managing Conflicts of Interest at MEX Digital FZE 

 

At MEX Digital FZE, we recognize the importance of effectively managing both potential and actual conflicts of interest within our organizational framework. To this end, we diligently adhere to a comprehensive internal policy specifically designed for conflict management. This policy guides our actions and decisions, ensuring they are in full compliance with relevant legal standards and ethical practices. 

In instances where conflicts of interest arise, MEX takes proactive measures to address and resolve these issues, maintaining transparency and accountability. Our commitment extends to keeping the relevant regulatory authorities informed as required by law. 

For a detailed understanding of our approach to managing conflicts of interest, we invite you to review the MEX Digital FZE Conflict of Interest Policy. 

Download MEX Digital FZE Conflict of Interest Policy

 

Whistleblower Protection at MEX Digital FZE 

 

MEX Digital FZE is committed to fostering a robust framework for whistleblower protection. We are dedicated to ensuring that individuals who come forward with disclosures are safeguarded against any legal or professional consequences. Our approach underscores the importance of transparency and integrity within our operations. 

 

MEX Broker-Dealer Licensed Operations 

 

MEX Broker-Dealer license is to be issued by the Virtual Asset Regulatory Authority (VARA) in Dubai, UAE. In line with the Virtual Assets and Related Activities Regulations 2023 set by VARA, MEX adheres to the comprehensive VA Framework. 

MEX plans to offers an array of VARA-regulated Virtual Assets through its OTC Broker-Dealer Primary Market Platform. For each Virtual Asset, we provide detailed information including the asset's name, symbol, market capitalization, supply specifics, historical price changes, and other key data points. 

In ensuring the security and integrity of our platform operations, MEX collaborates with VARA-regulated Virtual Assets Custodian partners, emphasizing the safekeeping of Virtual Assets. 

 

MEX Exchange Licensed Operations 

 

With the awaited Virtual Assets Exchange Services license from VARA, MEX has established a robust platform under the comprehensive framework for Virtual Assets. Our Exchange Secondary Market Platform is now operational, offering detailed insights into each Virtual Asset we handle. This includes critical information such as the asset’s name, symbol, date of issuance, comprehensive market data, and specific mechanisms in place to protect traded assets. 

 

MEX Corporate Information Disclosures MEX Digital FZE is incorporated in Dubai under Professional License number [License Number].  

Key contacts at MEX Digital FZE: 

Other Disclosures MEX engages in third-party referrals and partnerships with VARA-regulated entities. For example, we collaborate for our banking needs with Zand Bank for banking needs. MEX’s board members and senior managers uphold a clean legal record.  

Contact Us For inquiries about this Public Disclosure, contact us at contact us at Support MultiBank.io <[email protected]