CoinMENA taps Zodia Markets for enhanced liquidity

CoinMENA has partnered with Zodia Markets to provide its users with enhanced liquidity and reduced slippage on high-volume trades for G10 and GCC currencies versus a list of vetted and well-researched stablecoins and crypto assets.

Zodia Markets is a UK headquartered digital asset trading business backed by Standard Chartered. The business operates as a digital asset brokerage for institutional clients, offering a seamless avenue for fiat versus digital asset transactions across multiple currencies.

CoinMENA is a crypto asset platform where retail and institutional investors can buy, sell, send, receive, and store digital assets. Licensed by the Central Bank of Bahrain, the entity is the sister company of CoinMENA FZE, licensed by the Dubai Virtual Asset Regulatory Authority (VARA).

Minimal transaction costs and efficient settlement

Talal Tabbaa and Dina Sam’an, co-founders of CoinMENA, said: “This partnership comes at a perfect time because we are seeing a significant increase in interest from retail and institutional investors. With Zodia Markets we substantially enhanced our service offering and can provide investors with more efficient avenues for entering and exiting the digital assets market, with minimal transaction costs and efficient settlement.”

Ayad Butt, Head of Sales and Trading Africa and Middle East at Zodia Markets, commented: “The AME region, particularly UAE and Bahrain, has evolved impressively over the last five years. Regulatory clarity, world-class infrastructure, access to capital, and a growing economy have attracted the best minds and the most sophisticated capital for trading, investing, and innovating. The growth and increased adoption of digital assets in this ecosystem hinge on bridging traditional finance with digital assets. That’s precisely what the partnership between Zodia Markets and CoinMENA achieves. We’re excited by the efficiencies this partnership will create for trading in the region.”

See also  Impending Extradition? Nigerian Authorities Trace Fleeing Binance Exec To Kenya – Report

Besides being headquartered in the Kingdom of Bahrain, where it is licensed by the Central Bank of Bahrain (CBB) as a crypto asset service provider (category-3), CoinMENA B.S.C. controls other entities, namely in Dubai, where it operates a broker-dealer virtual asset service provider (VASP) licensed by Dubai’s Virtual Assets Regulatory Authority (VARA) and serves UAE-based residents.

In 2022, CoinMENA was registered as a cryptocurrency services provider in the European Union. While the firm mostly caters to residents of Bahrain, UAE, Saudi Arabia, Kuwait, and Oman, the European operation will fuel further expansion.

The post CoinMENA taps Zodia Markets for enhanced liquidity appeared first on FinanceFeeds.

Leave a Reply

Your email address will not be published. Required fields are marked *