CoinCorner, the Isle of Man-based crypto exchange, is aiming to expand across the Middle East through an alliance with the private office of Sheikh Saeed bin Ahmed Al Maktoum, CEO of Emirates and member of Dubai’s ruling family.
Seed Group will assist CoinCorner in expanding its operations into the UAE and gaining access to top decision-makers in the government and private sectors. The partnership will allow CoinCorner to establish a platform for the buying, selling, sending, receiving, and storing of bitcoin (BTC) and offer local businesses services to transact in crypto.
Hisham Al Gurg, CEO of Seed Group and the Private Office of Sheikh Saeed bin Ahmed Al Maktoum said in a statement:
Apart from individuals, a large number of companies are ready to embrace Bitcoin and other digital currencies as legal tender for future transactions. The UAE wants to offer a growth-oriented environment to fintech companies by establishing an ecosystem for digital currencies. Companies dealing in cryptocurrencies hold huge potential in the Emirates’ digital economy.
This partnership will give CoinCorner access to one of the fastest-growing economies and further its opportunities to reach out to prospective clients in the Middle East, Africa, and Asia.
The UAE, especially Dubai, has become an appealing doorway for crypto firms to expand thanks to its accommodating regulatory regime. With a transaction volume of around $26 billion, the UAE’s bitcoin and cryptocurrency market is the third largest in the Middle East.
Recently we have seen crypto exchanges FTX, Kraken, and OKX secure licenses from the city’s Virtual Assets Regulatory Authority (VARA). And Binance, the world’s largest cryptocurrency exchange, recently announced that it had been granted a Minimal Viable Product (MVP) license in Dubai.
“We are pleased to enter into a mutually beneficial partnership with Seed Group,” said Danny Scott, CEO of CoinCorner. “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.”
