Bitpanda, CoinMENA Partner For Crypto Trading Services In Middle East

Bitpanda Technology Solutions announced a partnership with CoinMENA to expand and enhance crypto trading services in the Middle East.

CoinMENA, licensed as a crypto asset platform by the Central Bank of Bahrain and the Dubai Virtual Asset Regulatory Authority (VARA), seeks to leverage Bitpanda’s advanced digital infrastructure.

With Bitpanda, CoinMENA aims to cater to the region’s growing demand for cryptocurrency services.

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CoinMENA Users to Get Access To Wide Range Of Assets

The partnership is expected to bring several benefits to users, including access to more competitive trading prices and a smoother overall trading experience.

Furthermore, by integrating Bitpanda’s comprehensive digital infrastructure, CoinMENA can now offer a broader selection of crypto assets. The partnership can meet the growing demand for diversified crypto portfolios in the region.

“When fully implemented, CoinMENA will have the ability to integrate the most complete range of crypto assets available on the market to meet the demands of its users safely and securely,” Bitpanda said.

🚨NEW Partnership Announcement🚨

CoinMENA partners with @Bitpanda_global Technology Solutions to enhance trading efficiency and expand crypto-asset offering

CoinMENA Co-Founders @DinaSaman_ and @tabbaa4 statement: "We are excited to partner with Bitpanda Technology Solutions,… pic.twitter.com/oivhZPGpdK

— CoinMENA | كوين مينا (@CoinMENA) August 26, 2024

Bitpanda, which already serves a global clientele that includes some of the world’s leading financial institutions, sees this partnership as a key step in strengthening its presence in the MENA region.

The company reported substantial growth in recent months, with its user base surpassing 5 million retail investors as of June. This marks a 25% increase in retail traders during the second quarter alone. The growth reflects a surge in interest in cryptocurrency trading across Europe.

In addition to its expansion into the MENA region, Bitpanda has also deepened its partnership with Deutsche Bank, enabling real-time payment solutions in Germany.

The initiative, which includes access to German IBANs through an API-based account solution, underscores Bitpanda’s commitment to enhancing user experience and solidifying its position as a leading crypto trading platform in Europe.

“Bitpanda Technology Solutions has already helped traditional banks such as Raiffeisen and LBBW, as well as fintech leaders like N26, Mambu, Plum, and Hype, introduce regulated, secure, and innovative investment platforms to their customers,” the company said.

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Bitpanda, RAKBANK Partner For Crypto Management Platform

Last week, the National Bank of Ras Al Khaimah (RAKBANK), a government-owned financial institution in the UAE, partnered with Bitpanda Technology Solutions to develop a digital asset management platform for UAE residents.

The new service will offer RakBank customers in the UAE access to a wide range of digital asset use cases. However, the project remains subject to approval by the Central Bank of the United Arab Emirates (CBUAE).

Abu Dhabi has been actively attracting crypto service providers and Web3 companies, establishing itself as a cryptocurrency hub.

In May 2024, crypto options trading platform QCP Capital received in-principle approval for regulated digital asset activities from ADGM. QCP is now the first Singapore-based crypto market maker and broker to receive a preliminary license in the region.

Additionally, popular firm Chainalysis recently established regional headquarters in Dubai. The company is actively engaging with local government stakeholders to provide advice on regulatory development in the crypto industry.

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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.