Bahrain-headquartered digital asset exchange received the license after reportedly meeting all of the operational, technical, and security requirements outlined by the Central Bank of Bahrain. CoinMENA is Sharia-compliant exchange, certified by the Shariyah Review Bureau. It facilitates deposit, trade, and withdrawal of digital assets in the users’ local currency. Aimed at both retail and institutional investors, CoinMENA will offer, upon launch, five major cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and Bitcoin Cash (BCH). It will also provide an “OTC Desk”, facilitating sizable transactions, along with a dedicated relationship manager who will see every trade through to execution.
CoinMENA’s platform and services will be available to residents of Bahrain, the UAE, Saudi Arabia, Kuwait and Oman. Obtaining the license from the Central Bank of Bahrain allows to operate under one of the most robust and globally-renowned digital assets regulatory frameworks where governance, security, and customer protection are central to all operations. As CoinMENA grows, it will be providing access to additional digital assets and expanding the jurisdictions to operate in, with the view of becoming one of the leading digital assets exchanges on a global scale.