Yoshi Markets Limited (“Yoshi Markets”), today announced that it is renamed as Venomex Limited (“Venomex”). The new name reflects the vision of its promoters and alignment with the Venom Blockchain platform, thereby establishing a solid foundation for building an end-to-end ecosystem for Virtual Assets and Blockchain based services.
Mustafa Kheriba, the Executive Chairman of Venomex, commented: “This is an exciting time for us at Venomex. The new name and brand will further position Venomex as an entity that aims to harness the potential of Virtual Assets and Blockchain in a much more impactful manner. With the new name, we plan to unveil services that will have multi-faceted use cases and benefits for our customers and strategic partners alike.”
On the completion of this initiative,Arshad Khan, CEO of Venomex, commented: “We are extremely happy to announce the new name. As the Virtual Assets landscape is shaping up in the UAE, owing to the clarity of regulations and emergence of multiple ventures in this space, we see the rebranding initiative as the first step towards becoming an end-to-end ecosystem player. I would like to thank the Venomex shareholders and the FSRA for their continuous support and guidance.”
Previously known as Yoshi Markets Limited, the main aim of the Multilateral Trading Facility and Custodian based in Abu Dhabi Global Market (ADGM), which has received FSP from Financial Services Regulatory Authority of ADGM, is to be a preferred venue for virtual assets listing, trading, settlement and custody that will offer a fully integrated ecosystem to institutional, HNI and retail investors.
In an exclusive interview between Unlock Blockchain and CEO of Yoshi Markets, Arshad Khan, the latter mentioned thatthe industry is not even operating at 1% capacity, and the world is still in its early stages of adopting crypto and digital assets. However, it will evolve at a very fast pace in the next few years.
He also added that as an exchange, there is an immense responsibility that comes with securing the client’s assets, and this should not involve a third party to do so, for if there is no tight relationship with this entity or the knowledge on how secure it is, then assets can be at high risk. This is why, most unregulated exchanges fail, and tokens like the Luna Classic crash.
“If Luna wanted to be listed on Yoshi, we would not have accepted”, he concluded.