UAE Investors Will Soon Be Able to Trade Cryptocurrencies in Dirhams 

 August 4, 2022

The UAE exchange will allow investors to purchase and trade digital currencies in dirhams, with all trades executed on a one-to-one basis. That means if someone wants to buy $100 worth of cryptocurrency, they’ll be able to do so without any additional fees or taxes. Visit this link if you want more information regarding buying Bitcoin through the bank.

Dubai Multi Commodities Centre works with one of the world’s largest cryptocurrency companies. Coinbase, to launch the first regulated cryptocurrency exchange in the Middle East.

Coinbase is one of the world’s largest cryptocurrency companies, and DMCC is a government-owned company that promotes and develops the Dubai economy. The Dubai Financial Services Authority (DFSA) will regulate the exchange, providing UAE investors with the opportunity to trade cryptocurrencies in dirhams.

UAE Investors Will Soon Be Able to Trade Cryptocurrencies in Dirhams

Dubai is fast becoming an important hub for blockchain technology, which powers cryptocurrencies such as Bitcoin and Ethereum.

The new company, Coinbase DMCC, is expected to be fully operational by the third quarter of 2018 and will let UAE investors trade cryptocurrencies such as Ethereum and Litecoin in dirhams. Coinbase is one of the largest cryptocurrency companies in the world. With more than 20 million customers and $150 billion worth of cryptocurrency traded on its platform.

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In a statement, Coinbase said that it was “delighted to announce that we are expanding our services to the United Arab Emirates in partnership with Abu Dhabi Global Market (ADGM).” ADGM is “the leading international financial center in the Middle East, offering companies access to an extensive network throughout North Africa, South Asia, and Southeast Asia.”

The new company will be called Coinbase DMCC (Dubai Multi Commodities Centre) and will let UAE investors trade cryptocurrencies such as Ethereum and Litecoin in dirhams. Coinbase also plans to launch additional services for its customers later this year.

“The demand for these products within the UAE is unprecedented,” says Suhail Al Zarooni, Chairman of DMCC. “With this development, we again reinforce our position as a global leader in trade and industry.”

This comes on the heels of a recent announcement that Saudi Arabia is considering launching its cryptocurrency, which would be called the Saudi Arabian digital riyal (SADR).

Cryptocurrencies and related assets have gained momentum and popularity worldwide in recent years.

Cryptocurrencies are digital assets that are created and stored electronically. They use blockchain technology, a public distributed ledger that records transactions across many computers. You can use cryptocurrencies to exchange value, buy goods and services, or securely transfer money without using financial institutions.

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These new forms of currency have gained momentum and popularity worldwide in recent years. Although they don’t have any legal tender status, they can be used as payment for goods and services at various outlets worldwide, including UAE Exchange branches nationwide.

Initial coin offerings are another trend that has grown out of cryptocurrencies, where businesses raise funds through issuing a digital currency or token in exchange for money.

An ICO is a new way to raise funds for start-ups and other businesses. It’s a way to raise money without going through the traditional venture capital process, allowing you to receive funding without giving up equity in your business.

A regulated cryptocurrency exchange should increase the demand for cryptocurrencies in the UAE. The exchange will be regulated by the Dubai Financial Services Authority and is expected to launch in January 2020. The exchange, dubbed DX Exchange, will be the first cryptocurrency exchange to offer trading in dirhams for cryptocurrencies such as Ethereum and Litecoin. It aims to attract a wide range of investors from different sectors and countries.

Final Words

We’re excited to see the growth of a regulated cryptocurrency exchange in the UAE. This new investment option will bring more transparency, security, and legitimacy. This will allow them to access digital assets and make investment decisions easily. Moreover, for buying and selling cryptocurrencies, you can use bitcoin trading software. This is good news for the crypto community as it opens up new growth opportunities. This opens up a whole new world of opportunities for those looking to get involved in the crypto market.

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