Today, the Dubai Financial Services Authority (DFSA) announced that ZetaChain (ZETA) has been officially recognized as a regulated cryptocurrency.
Crypto tokens previously recognized by the DFSA include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Toncoin (TON), and XRP.
The DFSA released the following statement:
“Under DFSA Rulebook GEN Rule 3A.3.4, the following Crypto Token has been recognized by the DFSA: ZetaChain (ZETA). The DFSA’s current list of Recognized Crypto Tokens is available on the DFSA website. This recognition will be effective immediately and will remain valid until further notice.”
This announcement comes after ZetaChain successfully raised $27 million in funding, backed by notable investors including Blockchain.com, Jane Street Capital, Human Capital, Vy Capital, and GSR.
With this funding, ZetaChain aims to develop a layer-1 blockchain compatible with the Ethereum Virtual Machine (EVM). EVM is a runtime environment that enables smart contracts to be run on the Ethereum network and offers a structure compatible with different blockchain-based applications.
ZetaChain’s platform is designed to build a multi-chain architecture that aims to provide seamless access to assets and data across different platforms, including blockchains that do not support smart contracts, such as Bitcoin and Dogecoin.
