Cryptocurrency exchange platform CoinCorner and Seed Group, a firm owned by the royal family of Sheikh Saeed bin Ahmed Al Maktoum of the United Arab Emirates, are teaming up to offer Bitcoin trading in the UAE, across the Middle East.
This is huge news for the crypto industry, especially with Dubai’s increasing stature as a global destination for companies in the digital assets space.
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CoinCorner to bring instant Bitcoin transaction to UAE
The strategic partnership between the British financial services provider and the Al Maktoum family office was announced via a press release both companies published on Wednesday.
The deal will help Seed Group support CoinCorner’s operations in the country, with the crypto exchange setting up a user-friendly trading desk to allow for easy access to services. The platform will allow UAE residents to buy, sell, and store Bitcoin (BTC)among other transactions, the two firms noted in the announcement.
Danny Scott, co-founder of CoinCorner, commented:
“We are pleased to enter into a mutually beneficial partnership with Seed Group. The collaboration will help propel our business interests and goals in the MENA region through the group’s support and a strong base of regional connections.”
Isle of Man-based CoinCorner launched its operations in 2014. In January 2021, the platform added support for Lightning Network, a Bitcoin scaling solution developed to allow for faster and cheaper BTC transactions amid the push for greater mass adoption.
According to Scott, the partnership will help CoinCorner bring Bitcoin to more people, making the BTC transactions the “new normal” across the UAE and the Middle East.The exchange could tap into its suite of unique solutions, including the recently announced Bolt Card to offer access to instant and frictionless Bitcoin payments.
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