International Business Digital Technology: Submitting a license application for operating virtual assets activities in the UAE has received preliminary approval

According to Zhitong Finance, Hong Kong-listed company International Business Digital Technology issued an announcement stating that the company's non-whoever-owned subsidiary established by the United Arab Emirates (UAE) has officially received a letter of no objection issued by the federally-level regulator of the United Arab Emirates. This letter constitutes preliminary approval for the following businesses: the three core businesses of virtual asset broker, virtual asset custodian and virtual asset platform operator will be included in the scope of IBDT Platform's corporate commercial license. IBDT Platform is held by the Company with the remaining 10% held by an independent third party, and the financial results of IBDT Platform will be consolidated into the Company's consolidated financial statements.