Bahrain-based crypto assets exchange, CoinMENA, has announced obtaining a second cryptocurrency license from the European Union.
According to CoinMENA's statement, the crypto firm will now be able to expand to new jurisdictions in the MENA region and beyond, as well as increase the number of crypto assets and crypto financial services on the platform.
Founded in 2021 by Dina Sam'an, Talal Tabbaa, and Yazan Barghuthi, CoinMENA today is a fully regulated, onshore crypto exchange licensed by the Central Bank of Bahrain, and it is one of the region's top crypto exchanges.
It's worth noting that CoinMENA has been one of the fastest growing cryptocurrency exchange in the MENA region - if not the fastest-, growing 140% month over month. During the past 7 months, the crypto exchange increased the number of crypto assets available of on it platform from 5 to 13, and aims to list more in the coming weeks.
CoinMENA currently supports five countries which are: Bahrain, the UAE, Saudi Arabia, Kuwait, and Oman. It allows users to trade/invest in crypto using their local currency.
In a joint statement, the company's co-founders Dina Sam'an and Talal Tabbaa said: "Regulatory compliance is a main priority for CoinMENA. In addition to expanding our service offering, the EU license would strengthen our banking relationships with regional and global banks. This move fulfills one of our primary objectives which is to be the best and easiest platform to on-ramp and off-ramp from crypto in the region. This is just the beginning for CoinMENA as we aim to roll out additional crypto financial services built on Web 3.0 and crypto rails".
