The South Korean currency exchange, Bithumb, signed a memorandum of understanding with the Nvelop company of the United Arab Emirates (UAE) to launch a commercial platform licensed for digital assets that support Fiat, reports CoinDesk.
As the newspaper notes, the new association should help Bithumb in the future to reach the markets of Saudi Arabia and Bahrain.
Note that Nvelop was founded by the E11 investment fund and the venture capital firm Trill Ventures Group for business development in the blockchain industry.
Previously, Bithumb launched the global Ortus OTC platform based in Hong Kong. It is assumed that institutional clients will have access to the custody solution with funds insurance.
At the same time, the South Korean giant intends to enter the US stock market. UU Through a reverse acquisition of the Blockchain Industries. The transaction is expected to close until March 1.
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