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Today, the Dubai Financial Services Authority (DFSA) announced that ZetaChain (ZETA) has been officially recognized as a regulated cryptocurrency.
Tokens previously recognized by the DFSA include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Toncoin (TON), and XRP.
The DFSA said in a statement:
“Pursuant to GEN Rule 3A.3.4 of the DFSA Rulebook, the following Crypto Token has been recognized by the DFSA: ZetaChain (ZETA). The DFSA’s current list of Recognized Crypto Tokens can be found on the DFSA website. The recognition will be effective immediately and will remain valid until further notice.”
The announcement comes after ZetaChain’s successful $27 million funding round, backed by notable investors including Blockchain.com, Jane Street Capital, Human Capital, Vy Capital, and GSR.
With this funding, ZetaChain aims to advance the development of a layer-1 blockchain compatible with the Ethereum Virtual Machine (EVM). EVM is a runtime environment for executing smart contracts on Ethereum, providing compatibility with a wide range of blockchain-based applications.
ZetaChain's platform is designed to connect multiple blockchains, allowing users to seamlessly access assets and data across platforms, including non-smart contract chains like Bitcoin and Dogecoin.
*This is not investment advice.