CoinMENA, the soon to be launched cryptocurrency exchange platform based in the Kingdom of Bahrain, is licensed by the Central Bank of Bahrain (CBB).
The newly acquired “Crypto Asset Services Company License” allows CoinMENA to fully operate as a regulated cryptocurrency exchange and land platform, the company announced on January 24th. The CBB licensing ensures CoinMENA complies with all operational, technical and security requirements set by the Central Bank.
As CoinMENA plans to launch its services in the Middle East and North Africa (MENA), and countries such as Bahrain, the United Arab Emirates, Saudi Arabia, Kuwait and Oman, CoinMENA is also certified by the Sharia review office as Sharia-compliant. platform.
At launch, CoinMENA will support five major digital currencies, including Bitcoin (BTC), Ether (ETH), XRP, Litecoin (LTC), and Bitcoin Cash (BCH). The exchange will also have an OTC or OTC platform for large transactions, providing clients with a dedicated leader who oversees every OTC trade.
CoinMENA co-founder and CEO Dina Saman said the company plans to expand to other countries after the launch:
“As CoinMENA grows, we will provide access to more digital assets and expand the jurisdictions in which we operate into one of the world’s leading digital asset exchanges.”
CoinMENA has been launching the cryptocurrency trading platform for over two years now. In late 2019, CoinMENA appointed the Sharia Review Office as the external facility to manage and monitor Sharia certification and Sharia audit services for its digital asset platform.