Interview: ‘Bitcoin is still the best-performing asset class in the world’ – CoinMENA CEO

Interview: ‘Bitcoin is still the best-performing asset class in the world’ – CoinMENA CEO

The crypto market has been in turmoil in recent weeks. According to research, Bitcoin experienced its worst quarter in a decade. It fell by 56.27%, exceeding its previous record of a loss of 40.37% in the first quarter of 2021.

Zawya spoke with Talal Tabbaa, CEO and co-founder of CoinMENA, a regulated cryptocurrency exchange under the Central Bank of Bahrain, to discuss the outlook for cryptocurrencies.

A number of cryptocurrency exchanges are setting up bases in the Middle East, making the region a crypto trading hub. What’s the reason behind it?

I think there are a couple of primary driving factors: regulation and demographics. The Central Bank of Bahrain was the first in the region to issue onshore licenses to digital asset exchanges, which is why we at CoinMENA set up our headquarters in Bahrain.

In addition, earlier this year the UAE established the Virtual Asset Regulatory Authority (VARA), a new entity specifically set up to regulate virtual and crypto assets. This regulatory clarity is crucial for founders and investors who are looking to gain exposure to this emerging asset class.

The second factor is demographics. The MENA region has one of the youngest demographics in the world, which makes them more likely to adopt