Dubai Regulator Elevates Crypto Game Bahrain’s CoinMENA Granted License

Dubai Regulator Awards Crypto License to Bahrain's CoinMENA

Move over, Las Vegas! There’s a new gambling capital in town, and it’s not your usual game of chance. Dubai, the city of awe-inspiring skyscrapers and mind-boggling wealth, has become the ultimate destination for virtual asset service providers (VASPs) like CoinMENA.

Hold on to your hats, folks, because CoinMENA just scored the hottest ticket in town! The Dubai-based cryptocurrency exchange has snagged a coveted VASP license from Dubai’s Virtual Assets Regulatory Authority (VARA). It’s like winning the lottery, only better – because instead of a lump sum, CoinMENA now has the legal green light to offer its virtual asset broker-dealer services in the Emirates.

• Su Zhu, the “Jailbird” Co-founder of Three Arrows Capital
• Three Arrows Co-Founder Su Zhu Faces Singapore Court Showdown in Thrilling Asset Hunt Bloomberg
• El Salvador’s $1 Million Bitcoin Visa Program: The Race is On!

But that’s not all, my fellow investors! CoinMENA can now provide retail and institutional customers in the United Arab Emirates with lightning-fast trades in UAE dirhams. Say goodbye to those pesky foreign exchange fees! It’s like having a winning hand in a high-stakes poker game.

Why Dubai, you ask? Well, in case you’ve been living under a rock, Dubai is at the forefront of crypto growth and innovation. They’re tossing out tradition like yesterday’s leftovers and embracing the digital asset revolution with open arms. And CoinMENA is riding the crypto wave, thanks to their strategic alliance with VARA.

Dina Sam’an, one of the co-founders of CoinMENA, knows the importance of relationships. And I’m not just talking about swiping right on Tinder. No, Dina is busy building “strong relationships” with local regulators, making Dubai a mega-hub for crypto and digital asset financial services. It’s like turning on the charm at a speed-dating event.

The other co-founder, Talal Tabbaa, confidently asserts that working with VARA will not only cater to their institutional and retail users in Dubai but also slash those pesky fiat to crypto transaction costs. It’s a win-win situation, my friends!

But wait, there’s more! CoinMENA has already joined forces with the digital banking champion Zand. It’s like a dynamic duo of financial prowess, a partnership so powerful that even Batman would be envious. Together, they’re rewriting the rulebook on how crypto and traditional banking can coexist.

CoinMENA is now officially part of the exclusive VASP license club, rubbing shoulders with other heavy hitters like Fasset and Laser Digital. The competition is fierce, my friends, like a futuristic gladiator fight. But CoinMENA is ready to rumble, believing that Dubai’s goal of becoming a global crypto hub will attract even more players to the game.

And just in case you’re wondering, CoinMENA isn’t putting all its eggs in one desert oasis. Their Bahrain entity will continue to serve their loyal customer base outside of the UAE. It’s like having two golden goose eggs, ensuring stability and growth.

So, fellow investors, buckle up and get ready for a wild ride in Dubai’s digital asset paradise. The stage is set, the lights are shining bright, and CoinMENA is ready to dazzle us all. Let the virtual asset games begin!

What are your thoughts on Dubai’s rapid ascent in the crypto world? Are you excited about CoinMENA’s VASP license? Share your opinions in the comments below, and let’s embark on this exhilarating crypto adventure together!

We will continue to update Blocking; if you have any questions or suggestions, please contact us!