Bahrain’s CoinMENA to offer crypto services in Egypt
- Date: 27-Jul-2022
- Source: Al-Monitor
- Sector:Financial Markets
- Country:Bahrain
Bahrain’s CoinMENA to offer crypto services in Egypt
The Bahrain-based cryptocurrency firm CoinMENA said today that Egyptians may now use its platform. Citizens and residents of Egypt can open accounts on CoinMENA, connect their own bank accounts and withdraw funds, according to a press release.
CoinMENA allows customers to buy and sell cryptocurrencies such as Bitcoin. It is based in Bahrain and regulated by the Central Bank of Bahrain. CoinMENA complies with Islamic financing rules, per its website.
Why it matters: Cryptocurrency is growing in the Middle East, particularly in Gulf states. CoinMENA now operates in the United Arab Emirates, Saudi Arabia, Kuwait, Oman and Qatar, in addition to Egypt and Bahraib.
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