Bitpanda and CoinMENA Join Forces for Crypto Expansion in MENA Region

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Hassan Shittu

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Hassan Shittu

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Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...

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Last updated: 

August 26, 2024

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Bitpanda Technology Solutions (BTS) and CoinMENA have entered a strategic partnership to enhance trading efficiency and expand the range of crypto assets available to users.

This collaboration positions both companies to capitalize on the rapidly growing demand for digital assets in one of the most ambitious and innovative regions for crypto adoption.

Infact, there have been speculations from thought leaders and expert insight that the Middle East will be the center of Crypto globally in the coming years, and potential rivals, which is the United States, are not moving any forward but rather focusing on scrutinization and regulatory exploitation.

CoinMENA X Bitpanda: More Than Just a Partnership

CoinMENA, a prominent crypto asset platform licensed by both the Central Bank of Bahrain and the Dubai Virtual Asset Regulatory Authority (VARA), has announced its partnership with Bitpanda Technology Solutions, a leading provider of digital assets infrastructure.

The partnership is set to significantly bolster CoinMENA’s trading platform by integrating Bitpanda as a liquidity provider.

This will ensure users receive the best possible prices and a smoother, more reliable trading experience.

The collaboration will allow CoinMENA to integrate an extensive range of crypto assets, safely and securely meeting its users’ increasing demands.

This enhancement is not merely about expanding the asset offerings but also about improving the overall trading efficiency.

Integrating Bitpanda will also enable CoinMENA to rapidly add new crypto assets and address one of its users’ most requested features.

Bitpanda Enters MENA: Is MENA Becoming The Central of Crypto Globally?

Bitpanda Technology Solutions has emerged as a pivotal player in the global digital assets industry, providing scalable, modular, and secure trading infrastructure to various financial institutions, including traditional banks, neobanks, fintechs, brokers, and crypto companies.

Earlier this year, the firm appointed Walid Benothman, formerly of 1inch Network, to lead its MENA regional operations.

With this partnership, Bitpanda continues its expansion into the MENA region, supporting over 25 million potential end users across Europe and beyond.

Nadeem Ladki, Global Head at Bitpanda Technology Solutions, describes MENA as one of the most innovative regions in the world regarding crypto assets.

“The MENA region is one of the most ambitious and innovative regions in the world when it comes to crypto assets. Bitpanda Technology Solutions provides institutions in the region access to one of the broadest ranges of crypto assets available, in a fully modular way, all with a highly regulated and trusted partner.”

Dubai and UAE have been at the forefront of this, with Dubai’s recent announcement of a 90% registration subsidy for Web3 and Artificial Intelligence (AI) companies seeking operational licenses.

This is part of its strategy to establish the largest pro-tech and crypto hub in the MENA region.

The initiative is expected to create close to 200,000 jobs in the Middle East by 2025, contributing significantly to the global growth of the AI and crypto industries.

In addition to fostering innovation, Dubai’s Virtual Asset Regulatory Authority (VARA) has been actively licensing digital asset exchanges, including granting Binance a Minimum Viable Product license and issuing a license to Nomura’s Laser Digital Middle East for crypto-based brokerage services.

The city’s broader tech vision includes a push towards the metaverse. By the decade’s end, it plans to attract 1,000 metaverse firms and create over 40,000 jobs, positioning Dubai as a global hub for metaverse and blockchain communities.