Thu.Aug 5th , Aug 2021 12:11:17 PM
CoinMENA receives license from the Central bank of Bahrain ahead of its launch

Post its launch, CoinMENA is expected to help new and seasoned investors by offering a locally integrated platform which allows investors to maximize their return on investment securely and safely

Middle East’s digital assets exchange firm- CoinMENA has recently announced receiving a ‘Crypto Asset Services Company License- Category 2’ from the Central Bank of Bahrain ahead of its launch in the region. Speculations have it that as a result of acquiring this license, the company would emerge as one of a few licensed and operating digital assets exchanges globally.

For the record, CoinMENA is looking forward to meeting the requirements of consumers in the Middle East region of being Sharia-compliant. The exchange enables for the seamless trade, deposit, and withdrawal of digital assets and cryptocurrencies in user’s local currency denomination while offering the most competitive fees possible.

Furthermore, looking forward to serving both institutional and retail investors, CoinMENA, upon launch, would offer five major cryptocurrencies- Ethereum, Ripple, Bitcoin, Bitcoin Cash, and Litecoin. Moreover, it would offer an ‘OTC Desk’ providing for sizable transaction, in line with a dedicated relationship manager who will see every trade through to completion.

Commenting on the recent accomplishment, Dina Sam’an, Co-Founder and MD of CoinMENA, reportedly cited that the exchange was developed to provide the Middle East region with seamless yet affordable access to digital assets, underpinned by stable banking relationships and high-quality services.

She added that receiving license from the Central Bank of Bahrain allows the company to operate under one of the most robust and renowned digital assets frameworks which include security, governance, and customer protection as a central motive.

Dina further said that as CoinMENA expands, it is anticipated to offer access to additional digital assets while also expanding the jurisdiction the exchange operates in, in an attempt to stand strong as one of the leading digital assets exchanges worldwide.

It has been claimed that upon launch, the exchange platform and services would be available to residents of the kingdoms of UAE, Kuwait, Oman, Bahrain, and Saudi Arabia.

Source Credit: https://www.zawya.com/mena/en/press-releases/story/Middle_Easts_cryptocurrency_exchange_CoinMENA_acquires_license_from_the_Central_bank_of_Bahrain_as_it_gears_for_launch-ZAWYA20210124125245/

By Priya Deshmukh

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