Spin Master Wins Landmark IP Protection Victories in China

TORONTO, March 15, 2022 /PRNewswire/ — Spin Master Corp. (TSX: TOY) (www.spinmaster.com), a leading global children’s entertainment today announced several landmark IP protection case wins. The victories are a positive sign of China’s commitment to tackle counterfeiting and IP infringement in the toy industry.

The cases include financial compensation following a win for Spin Master in a patent lawsuit against a Chinese company, as well as the first criminal judgment obtained for its popular PAW Patrol® cartoon series. The outcomes send a clear message that malicious infringement of IP rights will cost counterfeiters.

The cases further represent a crackdown on counterfeit toy products, which don’t meet safety certification standards and could endanger children. The strong stances taken will have a lasting effect on the enforcement of IP rights in the region.

Spin Master also successfully protected its patent for the award-winning Bakugan® toys in a patent infringement lawsuit against a major local imitator. The infringer’s ‘Monster Hunter’ toys closely mirrored the Bakugan series and, despite the infringer’s attempts to delay the process of litigation over a number of years, Spin Master obtained a favourable final civil judgment. The patent related to Bakugan toys was also sustained.

Spin Master was awarded CNY 15.5 million (approx. 2.4 million USD) in damages, in a decision that demonstrated the Chinese Supreme People’s Court is willing to take strong action. It serves as a warning for local IP infringers that the rights of multinationals, whether toy producers or manufacturers of other products, will be upheld in China.

Spin Master also successfully sought criminal action against counterfeiters across China, who had produced fake, unsafe toy merchandise for children in the region, selling them under the guise of being part of Spin Master’s PAW Patrol line.

Several local counterfeiters were raided by police, resulting in product seizures and detention of suspects. Two individuals were sentenced to imprisonment and received monetary penalties. Prosecutions against other infringers are still undergoing.

“These wins strengthen our confidence in China’s IP protection environment and judicial regime,” said Chris Harrs, Spin Master’s General Counsel and Corporate Secretary. “Spin Master will continue exploring routes, including legal action, to protection our IP rights as well as consumers’ interests.”

Consumers may purchase the PAW Patrol series and other toys developed by Spin Master through authorized distribution channels in China, including Toys “R” Us and Spin Master official online flagship stores in Tmall and other platforms.

About Spin Master
Spin Master Corp. (TSX:TOY) is a leading global children’s entertainment company, creating exceptional play experiences through its three creative centres: Toys, Entertainment and Digital Games. With distribution in over 100 countries, Spin Master is best known for award-winning brands PAW Patrol®, Bakugan®, Kinetic Sand®, Air Hogs®, Hatchimals®, Rubik’s Cube® and GUND®, and is the global toy licensee for other popular properties. Spin Master Entertainment creates and produces compelling multiplatform content, through its in-house studio and partnerships with outside creators, including the preschool franchise PAW Patrol and numerous other original shows, short-form series and feature films. The Company has an established presence in digital games, anchored by the Toca Boca® and Sago Mini® brands, offering open-ended and creative game and educational play in digital environments. Through Spin Master Ventures, the Company makes minority investments globally in emerging companies and start-ups. With over 30 offices in close to 20 countries, Spin Master employs more than 2,000 team members globally. For more information visit spinmaster.com or follow-on Instagram, Facebook and Twitter @spinmaster.

Sophia Bisoukis, Vice President, Investor Relations, sophiab@spinmaster.com

Turkey’s TESIAD, Azerbaijan’s National Confederation of Entrepreneurs establish joint coordination center

Published by
Azer News

By Trend Turkey’s business organization TESIAD and the National Confederation of Entrepreneurs (Employers) Organizations of the Republic of Azerbaijan (ASK) have established a joint coordination center, the confederation told Trend. According to the agency, proposals have already been put forward on business-related events to be held in the coming months. “The sides discussed the possibility of holding business forums and B2B meetings, as well as addressed the issue of applying the TESAM Academy experience in Azerbaijan,” the confederation said. The online meeting between TESIAD and the ASK wa… Continue reading “Turkey’s TESIAD, Azerbaijan’s National Confederation of Entrepreneurs establish joint coordination center”

Ankara urges Yerevan to accept Baku’s proposals for normalizing ties

Published by
Azer News

By Vugar Khalilov Turkey’s Presidential Administration has urged Armenia to accept Azerbaijan’s five basic principles for normalizing relations, Trend has reported. It stressed that these principles are a real push for regional peace and development, and their implementation is in Armenia’s best interests. The Presidential Administration emphasized the importance of “opening of transport and communications, building other relevant communications, and establishing cooperation in other areas of mutual interest” for Armenia. The statement also acknowledged Turkey’s ongoing support for Azerbaijan’… Continue reading “Ankara urges Yerevan to accept Baku’s proposals for normalizing ties”

Sweegen Expands Signature Stevia Footprint in Mexico

Mexico has adopted the Codex international food safety authority’s specification for steviol glycosides

Rancho Santa Margarita, Calif., March 15, 2022 (GLOBE NEWSWIRE) — Sweegen’s entire Signature Bestevia® portfolio of nature-based sweeteners and sweetener systems is now accessible to brands in Mexico after the country’s food safety authority adopted the Codex Alimentarius (Codex) specifications for steviol glycosides produced by different technologies. This includes Sweegen’s bioconversion method for producing clean and non-GMO stevia sweeteners, such as Rebaudiosides B, D, E, I, M, and N. Codex is the international food safety organization under the auspices of the World Health Organization (WHO).

“Mexico’s Codex adoption is a step in the right direction for tackling obesity and diabetes in adults and children stemming from high sugar in products,” said Luca Giannone, senior vice president of global sales. “Streamlining the regulatory process for introducing new generation zero-calorie stevia sweeteners contributes to the improvement of overall health and wellness for consumers.”

Giannone further said, “We are eager to share with brands in Mexico our expertise and high-quality ingredients for creating great-tasting, better-for-you product innovations.” He said, “Our robust portfolio of Signature sweeteners and sweetener systems featuring our proprietary Bestevia products is unparalleled; it demonstrates our commitment to investing in new technologies for offering the very best natural sweeteners to brands for tackling the challenges of sugar reduction and replacement in the formulation of food and beverages.”

Adopting the rigorous Codex framework for stevia technologies provided a streamlined approach for reviewing and approving Sweegen’s clean and sustainable bioconversion process. This approval by Mexico will provide greater access to less common and better-tasting steviol glycosides at scale and a more sustainable supply of zero-calorie ingredients with a taste closest to sugar.

Before the adoption, Sweegen’s Rebaudiosides M and D were approved in Mexico through the standard regulatory process. The new regulatory development opens doors for Sweegen to introduce unique Signature sweetener systems to brands, in addition to its Rebs D and M, further expanding product developers’ sugar reduction toolkits.

“With more sugar reduction tools for brands to explore, they can rapidly develop great-tasting and healthy food and beverages, sparking and inspiring new innovations and product launches,” said Giannone.

Sweegen’s LATAM Innovation Studio is located in Mexico City and serves the entire region. It is one of many global creative centers home to product developers exploring sweet taste solutions, local consumer insights, and collaborating on new or reformulated products with Sweegen’s expert food and applications team.

“The Codex framework sets a good regulatory example on welcoming better ingredients for supporting health and wellness,” said Hadi Omrani, senior director of technical and regulatory affairs. “As more countries follow suit, Sweegen’s global stevia footprint will rapidly expand into more countries, providing brands better options in sugar reduction solutions where they are under government pressure, like Mexico, to produce healthy food and beverages.”

Obesity, diabetes, and associated diseases are prevalent in Mexico and are leading public health concerns. Adult obesity increased by 42.2% from 2000 to 2018. Childhood obesity is linked to high sugar consumption and saturated fats. In 2016, Mexico declared an epidemiological alert as a result of high rates of diabetes and obesity after a WHO report published in 2015 raised awareness on serious health issues and supported Mexico’s sugar tax on all nonalcoholic beverages with added sugar in 2014. UNICEF reports that Mexico is the largest consumer of ultra-processed products, including sugary drinks, in Latin American countries.

Mexico’s beverage sugar tax resulted in fewer people buying sodas, with an overall decline of just 7.6%. “Behavioral conditioning through a beverage tax only goes so far,” said Giannone. “Introducing better ingredients into the food and beverage space can breathe new life into product offerings and stimulate new trends, such as plant-based products or functional beverages.”

In 2020, food and beverage producers in Mexico felt more pressure by a government mandate to present new front-of-package labels warning consumers of excess calories, sugar, sodium, saturated fats, and trans-fats, as well as caffeine and artificial sweeteners.

With the Codex adoption, brands have new opportunities to connect with consumers by delivering a full sugar-like taste in food and beverages without the calories. This would be a significant advancement from several years ago when the first generation of stevia was introduced.

Unlike first-generation stevia sweeteners like Rebaudioside A, new generation rebaudiosides made by bioconversion produce clean new generation sweetener molecules like Rebaudiosides B, D, E, I, M, and N, which are originally found in small quantities in the stevia leaf. They impart a clean sugar-like taste with a better sensory profile and are highly sought-after by food and beverage manufacturers in countries with regulatory approvals.

“Brands in Mexico can look to Sweegen as a resource of expertise and as a committed partner for creating zero to low-calorie new product innovations that will delight consumers while supporting the country’s journey on health and wellness goals,” said Steven Chen, Sweegen’s chief executive officer. “We commend the food and safety authorities in Mexico for demonstrating leadership by taking action on adopting the Codex specification.”

About Sweegen

Sweegen provides sweet taste solutions for food and beverage manufacturers around the world.

We are on a mission to reduce the sugar and artificial sweeteners in our global diet.  Partnering with customers, we create delicious zero-sugar products that consumers love.  With the best next-generation stevia sweeteners in our portfolio, such as Bestevia® Rebs B, D, E, I, M, and N, along with our deep knowledge of flavor modulators and texturants, Sweegen delivers market-leading solutions that customers want and consumers prefer. Be well. Choose well.

For more information, please contact info@sweegen.com and visit Sweegen’s website, www.sweegen.com.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains forward-looking statements, including, among other statements, statements regarding the future prospects for Reb M stevia leaf sweetener. These statements are based on current expectations but are subject to certain risks and uncertainties, many of which are difficult to predict and are beyond the control of Sweegen, Inc.

Relevant risks and uncertainties include those referenced in the historic filings of Sweegen, Inc. with the Securities and Exchange Commission. These risks and uncertainties could cause actual results to differ materially from those expressed in or implied by the forward-looking statements, and, therefore, should be carefully considered. Sweegen, Inc. assumes no obligation to update any forward-looking statements due to new information or future events or developments.

Attachments

Ana Arakelian
Sweegen
949.709.0583
ana.arakelian@sweegen.com

Conagen Develops Novel High-Performing Debondable Adhesives From Natural Ingredients

Sustainable hot melt adhesives resolve manufacturers from traditional hurdles in bonding

Bedford, Mass., March 15, 2022 (GLOBE NEWSWIRE) — A new era for adhesives has arrived for manufacturers seeking debondable structural adhesive solutions to avoid waste and save costs in manufacturing. Today, Conagen, the biotechnology innovator, announced the development of highly sought-after debondable hot melt adhesives made by high-performance materials from sustainable and natural bio-molecules.

“Conagen has solved the challenges manufacturers face in seeking strong structural adhesives that are long-lasting, perform strongly, and have the valuable option for breaking the adhesion before final finishing operations to deliver perfect products,” said J. McNamara, vice-president of chemical applications.

The advantages of high-strength debondable adhesives benefit multiple industries. For example, smartphones and electronics can be repaired effortlessly, and deconstructed at the end of their life without damaging components for recovery and recycling of valuable parts currently in land refills.

“Conagen’s patented debondable hot melt adhesive are incredibly stronger than what is used in the market now and can outperform petroleum-based products with a sustainable advantage that saves time, cost and reduces waste,” said McNamara.

McNamara further states, “The unexpected boost in performance comes from Conagen’s fermented ingredients already at full industrial scale.” And, “Conagen is open to discussing commercialization opportunities with manufacturers who are interested in a new era of performance materials.”

Adhesives offer many advantages in joining materials, including the ease of use compared to welding, sealing, distributing stress, and environmental resistance. Currently, manufacturers glue two pieces together and wait for a day to cure the bond. If there are imperfections in the bond, the glued products are thrown away because they cannot be unglued, resulting in time and material waste.

Today, most reactive hot melt adhesives rely on post-curing chemistry to develop adhesive strength. A downside to this approach is the curing process is irreversible and, as such, hinders or prevents de-bonding almost entirely.

While the ingredients of Conagen’s hot melt adhesives are commonly found in nature, to develop sustainable debondable adhesives, Conagen leverages its precision fermentation technology to engineer a synthetic pathway independent of plant source materials, creating more efficient and sustainable bio-based ingredients than what can be achieved with chemically-synthesized versions.

Conagen’s inspiration is self-healing materials, using sustainable and natural ingredients, turning them into high-strength debondable hot melt adhesives. “The process is as simple as cutting the plastic that reheals itself in less time than the conventional way,” said McNamara.

The Conagen adhesive is unique as it is a cross-linked material designed with reversibility in mind that exhibits the strength of traditionally cured adhesives with the added benefit of transitioning to a flowable material after heating.

Conagen’s debondable adhesive formulation is ideal for cars, boats, planes, transportation, consumer electronics and appliances, and military and industrial applications. And Adhesives in electric vehicles (EVs) are more widespread than conventional automobiles.

The adhesives market stood at $729.11 billion in 2019 and is projected to exhibit a CAGR of 5.3% between 2020 and 2027, making Conagen’s adhesive formulation lucrative in the original equipment manufacturers (OEM) market.

Conagen’s hallmark in the specialty and industrial space is discovering applications from the platform of natural bio-compounds and bio-materials for a new era of materials that are both high-performing and sustainable.

“Our adhesive formulation continues to show promise for bonding a wide array of materials, such as metal, plastic, and glass,” said McNamara. “We’re making it easier for companies to adopt a more natural position in manufacturing while staying true to the performance of their products.”

About Conagen

Conagen is a product-focused, synthetic biology R&D company with large-scale manufacturing service capabilities. Our scientists and engineers use the latest synthetic biology tools to develop high-quality, sustainable, nature-based products by precision fermentation and enzymatic bioconversion. We focus on the bioproduction of high-value ingredients for food, nutrition, flavors and fragrances, pharmaceutical, and renewable materials industries. www.conagen.com

Attachments

Ana Arakelian
Conagen
+1.781.271.1588
ana.arakelian@conagen.com

Warwick completes Belgravia ensemble with acquisition of the Mozart Portfolio

LONDON, March 15, 2022 /PRNewswire/ — Warwick Investment Group has completed its largest deal to date with the acquisition of 25 apartments across 5 unbroken freeholds across Ebury Street in Belgravia.

Ebury Street, Belgravia Location

The location is rich with history as Ebury Street was once home to composer Wolfgang Amadeus Mozart as well as to James Bond creator, Ian Fleming.

The diversified portfolio, aptly named the Mozart Portfolio, comprises an attractive mix of units with significant value enhancement potential through refurbishment and extensions of the existing accommodation.

Defined by Georgian buildings and an excellent neighbourhood retail offering, the Mozart portfolio comprises a mix of apartment sizes and provides a range of options for existing and future tenants.

The purchase is in line with Warwick’s strategy to acquire freehold investments with value-add potential and is a strong complement to Warwick’s existing ownership of nine freehold houses nearby in a gated mews on St Barnabas Street in Belgravia.

Since completion of the purchase, Warwick has increased occupancy, improved rents and has commenced design work to optimize the units for long term repositioning.

Andrew J. Chrysostomou, UK Senior Managing Director:

This purchase completes a hat-trick of deals for us in the last six months. We continue to proactively consolidate assets across central London, with the goal of becoming a top 10 private landlord in the capital.

Kate Richard, Founder and CEO:

The Mozart Portfolio is a “once in a generation” acquisition which supports our strategy of building an outstanding portfolio of high quality multi-family and single-family properties in Central London. We now own 14 buildings in Belgravia making us a committed long term investor in the neighbourhood.

Photo – https://mma.prnewswire.com/media/1763400/WIG_Ebury_Street.jpg

‫«وارويك» تكمل فرقة «بلغرافيا» بالاستحواذ على «مجموعة موزارت»

لندن, 15 مارس 2022 /PRNewswire/ — أكملت مجموعة وارويك (Warwick) للاستثمار أكبر صفقة لها حتى الآن من خلال الاستحواذ على 25 شقة في 5 مناطق ملكية عقارية خالصة غير منقطعة عبر شارع إيبيري في حي بلغرافيا.

Ebury Street, Belgravia Location

يتميز الموقع بثراء تاريخي حيث كان شارع إيبيري في يوم من الأيام موطنًا للملحن وولفغانغ أماديوس موزارت وكذلك لمؤلف جيمس بوند، إيان فليمنغ.

تتكون المحفظة المتنوعة، المسماة بمجموعة موزارت، من مزيج جذاب من الوحدات السكنية ذات إمكانات كبيرة لتعزيز القيمة من خلال تجديد وتوسيع أماكن الإقامة الحالية.

 ومن خلال تميزها بالمباني الجورجية والعروض الممتازة للبيع بالتجزئة في الأحياء تشتمل مجموعة موزارت على شقق بأحجام متنوعة وتوفر عددًا من الخيارات للمستأجرين الحاليين والمستقبليين.

 وتتماشى الصفقة مع استراتيجية «وارويك» للحصول على استثمارات التملك العقاري الخالص مع إمكانية إضافة القيمة وهي مكمل قوي لملكية «وارويك» الحالية لتسعة منازل للتملك الحر في مكان قريب في بنايات مسوَّرة في شارع سانت برنابا في بلغرافيا.

 ومنذ إتمام الصفقة، زادت «وارويك» من نسبة الإشغال، وحسّنت الإيجارات وبدأت أعمال التصميم لرفع كفاءة الوحدات من أجل إعادة تموضعها على المدى الطويل.

 ويقول أندرو جيه كريسوستومو، كبير المديرين التنفيذين بالمملكة المتحدة:

إن هذه الصفقة تأتي متممة لثلاث صفقات أبرمناها في الأشهر الستة الماضية. ونواصل تدعيم الأصول بشكل استباقي عبر وسط لندن، بهدف أن نصبح من أفضل 10 ملاك عقارات في العاصمة.

ويقول كيت ريتشارد، المؤسس والرئيس التنفيذي:

إن مجموعة موزارت عبارة عن عملية استحواذ نادرة وفريدة من نوعها وتدعم استراتيجيتنا لبناء مجموعة متميزة من العقارات ذات الجودة العالية تناسب العائلات المتعددة والعائلة الواحدة في وسط لندن. ونحن الآن نملك 14 مبنى في بلغرافيا مما يجعلنا مستثمرًا ملتزمًا على المدى الطويل في الحي.

صورة – https://mma.prnewswire.com/media/1763400/WIG_Ebury_Street.jpg

Hitachi Energy to accelerate sustainable mobility in Germany’s biggest city

Grid-eMotion™ Fleet smart charging solution to help the City of Berlin reach its goal of a zero-emission bus fleet by 2030

Zurich, Switzerland, March 15, 2022 (GLOBE NEWSWIRE) — Hitachi Energy has won an order from Berliner Verkehrsbe-triebe (BVG), Germany’s biggest municipal public transportation company, to supply its Grid-eMotion™ Fleet smart charging infrastructure to help BVG transition to sustainable mobility in Berlin, the country’s capital.

Hitachi Energy will provide a complete Grid-eMotion Fleet grid-to-plug charging infrastructure solution for the next two bus depots to be converted in the bus electrification program. Hitachi Energy’s solution offers the smallest footprint for both the connection, as well as low noise emissions and high reliability – three key requirements for bus depots in a densely populated urban environment, where space is limited and flawless charging is vital to ensure buses run on time.

The solution comprises a connection to the distribution grid, power distribution and DC charging infrastructure with charging points and smart charging systems. Hitachi Energy will perform the engineering and integrate, install and service the entire solution. The solution has a compact and robust design that requires less equipment than competing infrastructure, which results in a small footprint, lower operating and maintenance costs, and higher reliability. Typically, Grid-eMotion Fleet requires 60 percent less space and 40 percent less cabling than alternative charging systems; it also provides superior overall system reliability.

“We are delighted to help the City of Berlin in its transition to quiet and emission-free transportation and a sustainable energy future for the people of this iconic capital,” said Niklas Persson, Managing Director of Hitachi Energy’s Grid Integration business. “We feel the urgency and have the pioneering technology and commitment to advance sustainable mobility, thus improving the quality of life of millions of people.”

BVG operates Germany’s biggest city bus fleet of around 1,500 vehicles, which it aims to make completely electric and emission-free by 2030. This requires the installation of charging infra-structure in its large network of bus depots.

About Grid-eMotion

Grid-eMotion comprises two unique, innovative solutions – Fleet and Flash. Grid-eMotion Fleet is a grid-code compliant and space-saving grid-to-plug charging solution that can be in-stalled in new and existing bus depots. The charging solution can be scaled flexibly as the fleet gets bigger and greener. It includes a robust and compact grid connection and charging points, and is also available for commercial vehicle fleets, including last-mile delivery and heavy-duty trucks that require high power charging of several megawatts. Grid-eMotion Flash™ enables operators to flash-charge buses within seconds at passenger stops and fully recharge within minutes at the route terminus, without interrupting the bus schedule.

Both solutions are equipped with configurable smart charging digital platforms that can be em-bedded with larger fleet and energy management systems. Additional offerings from Hitachi Energy for EV charging systems consist of e-mesh™ energy management and optimization solutions and Lumada APM, EAM and FSM solutions, to help transportation operators make informed decisions that maximize their uptime and improve efficiency.

In the past few months alone, Hitachi Energy has won orders from customers and partners all over the world for its smart charging portfolio – a sign that Grid-eMotion is changing the e-mobility landscape for electric buses and commercial vehicles. Grid-eMotion solutions are al-ready operating or under development in Australia, Canada, China, India, the Middle East, the United States and several countries in Europe.

About Hitachi Energy Ltd.

Hitachi Energy is a global technology leader that is advancing a sustainable energy future for all. We serve customers in the utility, industry and infrastructure sectors with innovative solutions and services across the value chain. Together with customers and partners, we pioneer technologies and enable the digital transformation required to accelerate the energy transition towards a carbon-neutral future. We are advancing the world’s energy system to become more sustainable, flexible and secure whilst balancing social, environmental and economic value. Hitachi Energy has a proven track record and unparalleled installed base in more than 140 countries. Headquartered in Switzerland, we employ around 38,000 people in 90 countries and generate business volumes of approximately $10 billion USD.

About Hitachi, Ltd.

Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, contributes to a sustainable society with a higher quality of life by driving innovation through data and technology as the Social Innovation Business. Hitachi is focused on strengthening its contribution to the Environment, the Resilience of business and social infrastructure as well as comprehensive programs to enhance Security & Safety. Hitachi resolves the issues faced by customers and society across six domains: IT, Energy, Mobility, Industry, Smart Life and Automotive Systems through its proprietary Lumada solutions. The company’s consolidated revenues for fiscal year 2020 (ended March 31, 2021) totaled 8,729.1 billion yen ($78.6 billion), with 871 consolidated subsidiaries and approximately 350,000 employees worldwide. For more information on Hitachi, please visit the company’s website at https://www.hitachi.com.

Attachment

Rebecca Bleasdale
Hitachi Energy Ltd.
+41 78643 2613
rebecca.bleasdale@hitachienergy.com

FTX EUROPE ENTERS THE WORLD’S FIRST PRUDENTIALLY REGULATED VIRTUAL ASSET JURISDICTION IN DUBAI

FTX Europe will also be establishing a regional headquarters in Dubai

DUBAI, United Arab Emirates, March 15, 2022 /PRNewswire/ — FTX Europe & MENA (“FTX Europe” or “the Company”), the European affiliate of FTX Trading Ltd. (‘FTX’ ), owner and operator of FTX.COM, today announced that it has been licensed to establish and operate its Virtual Asset (VA) Exchange and Clearing House services in Dubai, United Arab Emirates (UAE).  As an anchor within Dubai’s programme to drive progressive global VA Regulatory frameworks, FTX Europe becomes the first fully regulated VA Exchange to trial complex crypto derivatives dedicated to professional institutional investors within a reputed international jurisdiction.

FTX

FTX CEO, Sam Bankman-Fried, commented on the news, “FTX is proud to be the first licensee under Dubai’s prudential supervision regime. It’s an honor to be one of the first approved applicants in such a specialised category and we are excited to be able to introduce complex crypto-derivatives products with centralised counterparty clearing to institutional markets. FTX receiving this approval is a continuation of our mission to be at the forefront of licensing and regulation around the world. We plan to continue playing a lead role in advancing the digital asset industry in countries that provide a robust regulatory framework, while also operating with the highest security, risk, and investor protection standards.”

Dubai is the only global economy to have an independently regulated environment under its newly announced Virtual Asset Regulatory Authority (VARA), to be governed by comprehensive legislation and internationally applicable policy frameworks. The license issued under prudential supervision, allows FTX to operate within Dubai’s ‘test-adapt-scale’ VA market model which has rigorous regulatory oversight and mandatory FATF compliance controls that are similar to the requirements of  Tier 1 international financial markets. The VA Exchange [VAX] License within this specialist Dubai regime allows FTX to be the first provider of regulated trading and clearing services for crypto-specific derivatives, on trusted guard-rails applicable in legacy markets like NASDAQ Dubai, assuring transparency and investor security. As an approved participant with this specialist regime, FTX will work with Dubai on setting global operating standards to facilitate traceable and secure cross-border trades for the entire crypto industry.

Patrick Gruhn, Head of FTX Europe, adds, “It is a major achievement for FTX to be approved as the first exchange under this unique regulatory framework. I’m excited to expand our presence in the MENA especially as countries like the United Arab Emirates continue to set a new  bar when it comes to crypto regulation.”

Dubai is a highly regarded international jurisdiction for tier-1 financial institutions with vibrant capital markets held to the same stringent compliance standards as the largest global economies. Equally, the certainty and credibility that Dubai assures in its adherence to these commitments, allows FTX to safely pursue its overall strategy of scaling towards becoming the first VASP to enter global markets in a fully regulated manner.

Commenting on on-boarding FTX to this ecosystem, Helal Saeed Almarri Director General of Dubai World Trade Centre Authority that houses VARA said, “Dubai views the Virtual Assets industry as an accelerator for the Future Global Economy. Our VARA regime is structured to catalyze collaboration, foster innovation, and most critically prioritise public protection. This has hence been designed as the world’s first participatory-governance model, where industry innovators and market shapers share responsibility with policy makers to create a smarter, more democratic, and borderless new economy. Licensing FTX within this specialist regime reflects our focus on enabling only the most credible global players that demonstrate a consistent commitment to future-proof this sector.”

About FTX Europe
FTX Europe with it’s holding company in Switzerland, is the European and Middle East division of FTX, a cryptocurrency exchange built by traders, for traders.  Through FTX Europe, users in the European Economic Area and the Middle East can access FTX’s innovative products, including industry-leading derivatives, options and volatility products, tokenized stocks, and other services and products.

To learn more about FTX Europe & MENA, please visit: https://ftx.com/eu

About FTX.COM
FTX is a cryptocurrency exchange built by traders, for traders. It offers innovative products, including industry-leading derivatives, options and volatility products, tokenized stocks, prediction markets, leveraged tokens and an OTC desk. FTX strives to be an intuitive yet powerful platform for all kinds of users, and to be the most innovative exchange in the industry.

To learn more about FTX.COM, please visit: https://ftx.com

FTX.COM is not available to US residents or residents of other prohibited jurisdictions, as set out in its Terms of Service.

Media Contact
Peter Padovano
M Group Strategic Communications (on behalf of FTX)
+1 646 859 5953
ftx@mgroupsc.com

Logo – https://mma.prnewswire.com/media/1507122/FTX_Logo.jpg