MANAMA, Bahrain, July 26, 2022 /PRNewswire/ — CoinMENA, a leading digital assets exchange in the Middle East and North Africa region, announced recently that it will now onboard citizens and residents of Egypt from its base in Bahrain. Users in Egypt can now open accounts on the platform and access all its services, including connecting their bank accounts to their CoinMENA wallets, allowing them to deposit and withdraw funds directly and safely.
This is the latest in the series of expansions by the Bahrain-based cryptocurrency exchange after just one year of operations. CoinMENA now supports residents from seven countries, including Bahrain, UAE, KSA, Kuwait, Oman, Qatar, and now Egypt.
CoinMENA Founders Dina Sam’an and Talal Tabbaa commented in a joint statement, “We are excited to be able to onboard residents of Egypt to our platform from our base in Bahrain. Egypt has the largest population and one of the highest crypto adoption rates in the region. This brings us a step closer towards our goal of providing access to digital assets throughout the MENA region.”
The Bahrain-headquartered company recently added a range of first-in-the-region features for its users. The exchange entered into a partnership with Visa to offer a host of exclusive services, including the CoinMENA Visa Card, which can be used at millions of merchants worldwide. In addition, CoinMENA also introduced new features recently, like limit order trading and USDT withdrawals via the TRON network.
“Our ability to onboard residents of Egypt significantly increases our total addressable market,” said Sam’an. “We plan to continue working closely with regulators to be able to expand our services to different markets and enable people to have safe exposure to digital assets.”
“The potential in Egypt is massive,” Tabbaa added, “Crypto can provide 100 million Egyptians with access to premium financial services”
Headquartered in the Kingdom of Bahrain, CoinMENA is a digital assets exchange that is regulated and licensed by the Central Bank of Bahrain (CBB) as a crypto asset service provider (category-3). CoinMENA seeks to empower new and seasoned investors in the MENA region who want access to crypto asset investment options by allowing them to participate in the new digital economy. Through CoinMENA, investors can buy, sell, store, and receive digital assets safely and securely, as well as deposit and withdraw in their local currency. Through competitive fees, high liquidity, and an educational approach, CoinMENA aims to be the simplest and most trusted digital assets exchange platform in the region.
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