MaskEX, a fast-growing third-generation crypto exchange headquartered in Dubai, has announced the launch of its crypto-backed Virtual Card and the appointment of Ben Caselin as Vice President. These moves signal the exchange's ambition to expand globally while making digital assets more spendable in everyday life.
Virtual Card: Spend Crypto Across 176 Countries
The MaskEX Virtual Card is now available to all ID-verified users. It enables users to convert their crypto holdings into fiat currency and spend at more than 50 million merchants across over 176 countries. “We are excited to offer our users the ability to spend their crypto wherever and whenever they want,” said Eric Yang, CEO of MaskEX. “Our vision is to make crypto more accessible and integrate it more with people's everyday lives.”
Ben Caselin Brings Trust and Compliance Focus
Ben Caselin formerly served as Head of Research and Strategy at Hong Kong-based exchange AAX for nearly four years, where he played a key role in driving mainstream adoption of bitcoin and digital assets, particularly in emerging markets. He left AAX after the exchange faced difficulties following the FTX collapse in late 2022. Eric Yang explained that Caselin was specifically asked to bring an uncompromising perspective: “We have asked him to be uncompromising and closely scrutinize our operations.”
Caselin commented on his new role: “While the industry is still suffering from contagion and a severe lack of investor confidence, we cannot afford to give up now. Properly managed centralized exchanges can still play an important role in raising awareness around digital assets, providing a point of contact for regulators, cooperating with the banking sector and payment providers, and driving the mainstream uptake of bitcoin and digital assets everywhere.”
Exchange Strengths: Proof-of-Reserves and Sovereign Wealth Backing
MaskEX claims to be one of only 18 centralized exchanges globally that provide Proof-of-Reserves. It also counts Abu Dhabi's Sovereign Wealth Fund, represented by Sheikh Hamad Rakadh Salem Hamad Alameri, as a major stakeholder. Yang stated, “We know we are in a very good place to compete with the world’s biggest trading platforms.”
About MaskEX
Headquartered in Dubai, UAE, MaskEX was founded in 2021 as a third-generation centralized crypto exchange. It offers a user-friendly interface, advanced trading tools, savings packages, over 300 spot pairs, deeply liquid futures markets, and fiat on- and off-ramp products. The exchange currently serves over one million users globally.
The launch of the virtual card and the appointment of Ben Caselin highlight MaskEX’s strategy to rebuild trust in centralized exchanges through real-world utility and experienced leadership, especially in the wake of the FTX crisis.