Bahrain central bank licenses Sharia-compliant crypto exchange
CoinMENA, a soon-to-launch cryptocurrency exchange headquartered in the Kingdom of Bahrain, has actually acquired a license from the Central Bank of Bahrain, or CBB.The newly acquired “Crypto Assets Services Company License” permits CoinMENA to operate fully as a controlled crypto exchange and onshore platform, the business announced on Jan. 24. The CBBs license makes sure that CoinMENA meets all of the functional, technical and security requirements set by the main bank.As CoinMENA plans to present its services in the Middle East and North Africa, or MENA, countries– consisting of Bahrain, United Arab Emirates, Saudi Arabia, Kuwait, and Oman– CoinMENA is likewise licensed by the Shariyah Review Bureau as a Sharia-compliant platform.At the launch, CoinMENA will support five significant cryptocurrencies consisting of Bitcoin (BTC), Ether (ETH), XRP, Litecoin (LTC) and Bitcoin Cash (BCH). The exchange will likewise feature a non-prescription, or OTC, platform for bigger deals, offering clients with a dedicated supervisor overseeing every OTC trade.Dina Sam an, co-founder and handling director of CoinMENA, stated that the company aims to broaden to more nations after its launch:” As CoinMENA grows, we will be providing access to extra digital possessions and expanding the jurisdictions we operate in, with the view of turning into one of the leading digital assets exchanges on a worldwide scale.” CoinMENA has been working to release its crypto trading platform for more than 2 years up until now. In late 2019, CoinMENA designated the Shariyah Review Bureau as an outsourcing facility to handle and monitor the Sharia accreditation and Sharia audit services for its digital property platform.Title: Bahrain main bank licenses Sharia-compliant crypto exchangeSourced From: cointelegraph.com/news/bahrain-central-bank-licenses-sharia-compliant-crypto-exchangePublished Date: Mon, 25 Jan 2021 10:11:03 +0000
Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together
