Exchange Services Disclosure Statement

Latest Update: 19/06/2024

Gate Technology FZE (“Gate”) is licensed by the Dubai Virtual Assets Regulatory Authority (“VARA”) [License No. (•)] to undertake ‘Exchange Services’ (i.e., matching orders between buyers and sellers and conducting an exchange, trade or conversion between (i) virtual assets and fiat currency or (ii) one or more virtual assets, and maintaining an order book in furtherance of such service).

This statement has been prepared in accordance with VARA’s regulatory requirements regarding public disclosures. The purpose of this statement is to disclose certain key information regarding Gate’s services and operations. Gate may make amendments to this statement, as may be deemed appropriate, necessary or if so directed by the VARA and/or the concerned regulators.  

1. Conflicts of Interest: Currently, no conflicts of interest, arising out of Gate’s activities, have been identified. In the event that potential or actual conflicts of interest are identified, Gate shall disclose the same to affected clients.

2. Privacy policy: You can find Gate’s privacy policy at [Privacy and Cookie Policy]. 

3. Complaints handling procedures: You can find Gate’s summary of complaints handling procedures at [Summary of Complaint Handing].

4. Whistleblowing policy: You can find Gate’s whistleblowing policy at [Whistleblowing Policy].

5. Anti-bribery and corruption: You can find Gate’s summary of business gifts, anti-corruption and bribery policy at [Summary of Business Gifts, Anti-Corruption Bribery Policy].

6. Details regarding virtual assets: The following details regarding the virtual assets listed on our platform can be found at CoinGecko:

a. name and symbol;

b. date of issuance;

c. market capitalisation and fully diluted value;

d. circulating supply;

e. smart contract audit; and

f. price changes.

7. Virtual assets standards and listing policy: You can find Gate’s virtual assets standards and listing policy at [Virtual Asset Standards].

8. Exchange trading rules: You can find Gate’s exchange trading rules at [Exchange Trading Rules].

9. Deposit, protection and ownership of virtual assets: The process of depositing virtual assets in your account can be found at [How to Deposit / Withdraw Assets] (“How do I deposit virtual assets on Gate?”). Any virtual asset received from you will be securely stored by Gate on your behalf. These virtual assets will be stored in omnibus wallets (a combination of cold and hot wallets) where your virtual assets are pooled with those of other clients. Gate maintains an account management system that tracks your individual account balances in real time. The ownership of the virtual assets deposited by you, and as tracked by Gate’s account management system, shall remain with you. Gate will be the sole custodian of the private keys of the omnibus wallets.

10. Details of past convictions or prosecutions of senior management or board of directors: None of Gate’s senior management or board of directors have been subjected to any past convictions or prosecutions (UAE courts or otherwise).

11. Pricing: You can find Gate’s fee schedule at Fee Schedule.

12. Responsible Individuals:

Edwin Cheung: CEO

Jawad Almohtar: CCO

Muhammad Sheri Dil Awan: CFO