CoinMENA: Bahrain’s Newest Regulated Cryptocurrency Exchange Launches Soon

The Rise of CoinMENA

In the bustling world of cryptocurrency, Bahrain is stepping into the spotlight with its newest player, CoinMENA. This exchange isn’t just another crypto platform—it’s got the fancy license from the Central Bank of Bahrain (CBB) to prove it. Like a student who finally passed their finals, CoinMENA can now officially operate as a regulated crypto exchange. So, what does this mean for digital currency traders in the Middle East and North Africa?

A License to Trade

The “Crypto Assets Services Company License” obtained by CoinMENA is no small potatoes. It allows this exchange to meet all the operational, technical, and security standards set by the CBB. Imagine a vault where only the most compliant and reliable cryptocurrencies are allowed in. That’s CoinMENA’s goal—creating a safe space for traders and investors.

Shariyah Certification: Double the Compliance

CoinMENA isn’t just satisfied with meeting the CBB’s requirements. It’s also certified by the Shariyah Review Bureau, which ensures that it operates within the norms of Islamic law. This dual certification is like having a seatbelt and an airbag—double the safety for users. A CoinMENA spokesperson explained it well: “We are permitted to allow customers who are residents in the above-mentioned countries to trade on CoinMENA, subject to them satisfying our due diligence procedures.”

What Cryptos Can You Trade?

When CoinMENA finally launches (no release date yet, folks), they’ll boast a lineup of five major cryptocurrencies. Get ready to trade:

• Bitcoin (BTC)
• Ether (ETH)
• XRP
• Litecoin (LTC)
• Bitcoin Cash (BCH)

But they’re not stopping there. The platform plans to accept a variety of fiat currencies, including the Bahraini dinar and the US dollar. So whether you’re paying in dirhams or dinars, your transactions are covered.

Over-the-Counter (OTC) Trading: For the Big Fish

For those of you who prefer making wave-sized transactions, CoinMENA also has an OTC platform for larger trades. Picture it as a VIP lounge for high rollers—dedicated managers to oversee your heavier investments. Because let’s be real, who wants a trade gone wrong when you’re moving mountains of cryptocurrency?

Future in Focus

Dina Sam’an, the co-founder and managing director of CoinMENA, has her eyes set on a broad horizon. “As CoinMENA grows, we will be providing access to additional digital assets and expanding the jurisdictions we operate in,” she stated confidently. The company’s ambition is clear: they want to be a leading exchange not just within MENA, but globally.

Having spent over two years prepping for this launch, CoinMENA is not just throwing a party; they are ready for a festival. With Sharia compliance and rigorous licensing under their belts, they seem well-equipped to bring new, exciting opportunities in the crypto space.