CoinMENA, which will be released soon, announced that it will offer spot trading in five major cryptocurrencies.
New stock market
The Middle East digital asset exchange CoinMENA announced on Sunday that it has received approval from the Central Bank of Bahrain (CBB) ahead of its upcoming launch.
The certified Sharia-compliant exchange said it obtained a Crypto Asset Services Company license from CBB after meeting a number of technical and security requirements.
The platform will be one of the relatively few fully licensed and operating digital asset exchanges for retail and institutional investors in the Kingdom of Bahrain, the United Arab Emirates, Saudi Arabia, Kuwait and Oman, according to the announcement.
When CoinMENA is launched, it said it will offer spot trading in five major cryptocurrencies: Bitcoin, Ethereum, XRP, Litecoin and bitcoin Cash. It also plans a countertop table for larger operations.
“Obtaining a license from the Central Bank of Bahrain enables us to operate under one of the most robust and world-renowned digital assets regulatory frameworks where management, security and customer protection are at the core of all our operations,” said Dina Sam, CEO of CoinMENA.
No date has been given for the planned launch.