British Bitcoin (BTC) exchange, CoinCorner has inked a strategic partnership with the Seed Group, a company of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum to offer residents of the United Arab Emirates an avenue to transact in digital currencies.
As announced by the Seed Group, the partnership will involve CoinCorner setting up a trading platform that UAE residents can easily access to conduct Bitcoin and crypto-related transactions. Founded in 2014, CoinCorner is a trading outfit regarded as an early pioneer in the crypto trading space.
“The collaboration will help propel our business interests and goals in the MENA region through the group’s support and a strong base of regional connections. We are committed to making Bitcoin transactions the “new normal” in the UAE with the help of our unique solutions facilitating instant and frictionless payments,” said Danny Scott, Co-founder, CoinCorner.
On the part of the Seed Group, the family office will use its influence to help promote the integration of CoinCorner’s entry into the UAE and the surrounding regions. Building on its ultimate focus of helping to power growth in the UAE, Seed Group will also help CoinCorner to reach the right audience in a mutually beneficial way.
The United Arab Emirates is adjudged as one of the most proactive countries because it concerns digital currencies’ growth and related advances. The country is ranked as the third biggest market in the Middle East, with a transaction volume of $26 billion. The country has the right legislation and has started attracting top-profile crypto firms to its shores.
In a related move, Binance Exchange entered into a strategic alliance with Dubai’s Virtuzone to enable residents to pay for everyday items using digital currencies. Besides Binance, other exchanges are jostling to take a share of the market in the UAE, and many have already been granted the operational license.
Image source: Shutterstock