Cryptocurrency exchange Bitpanda and trading platform CoinMENA have announced a strategic partnership aimed at increasing the efficiency of the latter.
CoinMENA has received operating licenses from the Central Bank of Bahrain and the Dubai Virtual Asset Regulatory Authority (VARA). The platform's strategic partnership with Bitpanda also aims to expand the Middle East and North Africa-focused cryptocurrency entity's digital asset products and services.
Market Demand
CoinMENA co-founders Dina Sam'an and Talal Tabbaa said in a statement:
“We are pleased to partner with Bitpanda Technology Solutions, an industry leader that shares our commitment to providing the highest level of cryptocurrency trading services. This collaboration will not only improve trading efficiency but also deliver one of the most requested features from our users, allowing us to more quickly add new crypto assets in response to market demand.”
Samuan also commented on the partnership through a post on X on August 26th.
We're thrilled to announce a strategic partnership with @Bitpanda_global. Together we will increase trading efficiency and expand our crypto offerings on @CoinMENA. This collaboration marks a major step forward in our mission to provide our users with the most reliable… pic.twitter.com/7nq2YwkFHM
— Dina Saman | دينا سمعان (@DinaSaman_) August 26, 2024
Bitpanda will act as a liquidity provider for CoinMENA, improving the exchange's trading efficiency and user experience.
“When it comes to crypto assets, the MENA region is one of the most ambitious and innovative in the world,” noted Nadim Radki, Global Head of Bitpanda. “Bitpanda Technology Solutions offers institutions in the region access to one of the widest ranges of crypto assets available in a fully modular way, all with a highly regulated and trusted partner,” Radki added.
Bitpanda recently partnered with UAE's RAKBANK to expand its digital asset footprint in the UAE. The exchange has also partnered with Coinmotion and inked a major deal with Serie A powerhouse AC Milan.
