International Business Digital Technology has submitted an application for a virtual asset-related operating license and received preliminary approval from the UAE
2025-09-09 11:46:40
International Business Digital Technologies (01782.HK) announced that IBDT OPERATING VIRTUAL ASSET PLATFORM - L.L.C (IBDT Platform), a non-wholly-owned subsidiary of the Company established in the United Arab Emirates (UAE), has officially received a letter of no objection (this letter) issued by the Securities and Commodities Authority (SCA), the federal regulatory authority of the UAE. This letter constitutes the preliminary approval for the following business: The three core businesses of virtual asset brokers, virtual asset custodians and virtual asset platform operators are included in the corporate business license scope of IBDT Platform. As of the date of this announcement, IBDT Platform is 90% owned by the Company and the remaining 10% is held by an independent third party. The financial results of IBDT Platform will be consolidated into the Company's consolidated financial statements.
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