CoinMENA Partners with Standard Chartered-backed Zodia Markets to Enhance Liquidity on Fiat to Crypto Trades
DUBAI, UAE, April 22, 2024 /PRNewswire/ -- CoinMENA B.S.C., a leading crypto asset platform licensed by the Central Bank of Bahrain and sister company CoinMENA FZE, licensed by the Dubai Virtual Asset Regulatory Authority (VARA), proudly announces a partnership with Zodia Markets, a UK headquartered digital asset trading business, backed by Standard Chartered. The partnership will provide CoinMENA users with enhanced liquidity and reduced slippage on high-volume trades for G10 and GCC currencies vs a list of vetted and well-researched stablecoins and crypto assets.
Zodia Markets is renowned for its industry-leading trading and operational infrastructure, ensuring timely and efficient settlement. The business operates as a digital asset brokerage for institutional clients, offering a seamless avenue for fiat versus digital asset transactions across multiple currencies. CoinMENA is a crypto asset platform where retail and institutional investors can buy, sell, send, receive, and store digital assets safely.
The partnership merges the strengths of two pioneering institutions. CoinMENA's extensive network of retail and institutional clients across the MENA region, combined with Zodia Markets' industry-leading capability, establishes a reliable and trusted gateway to digital assets.
In a joint statement, CoinMENA co-founders Talal Tabbaa and Dina Sam'an said: "This partnership comes at a perfect time because we are seeing a significant increase in interest from retail and institutional investors. With Zodia Markets we substantially enhanced our service offering and can provide investors with more efficient avenues for entering and exiting the digital assets market, with minimal transaction costs and efficient settlement."
Ayad Butt, Head of Sales and Trading Africa and Middle East, Zodia Markets added "The AME region, particularly UAE and Bahrain, has evolved impressively over the last five years. Regulatory clarity, world-class infrastructure, access to capital, and a growing economy have attracted the best minds and the most sophisticated capital for trading, investing, and innovating."
Ayad emphasized, "The growth and increased adoption of digital assets in this ecosystem hinge on bridging traditional finance with digital assets. That's precisely what the partnership between Zodia Markets and CoinMENA achieves. We're excited by the efficiencies this partnership will create for trading in the region."
Both CoinMENA and Zodia Markets eagerly anticipate the transformative journey ahead, as this partnership reshapes the landscape of digital asset trading in MENA.
About CoinMENA
Headquartered in the Kingdom of Bahrain, CoinMENA B.S.C. (C) is licensed by the Central Bank of Bahrain (CBB) as a crypto asset service provider (category-3). CoinMENA FZE, a sister company, is licensed as a broker-dealer virtual asset service provider (VASP) by Dubai's Virtual Assets Regulatory Authority (VARA) and serves UAE-based residents. CoinMENA seeks to empower new and seasoned investors in the MENA region who want access to crypto asset investment options by allowing them to participate in the new digital economy. At CoinMENA, investors can buy, sell, send, receive, and store digital assets safely and securely, as well as deposit and withdraw in their local currency. Through competitive fees, high liquidity, and an educational approach, CoinMENA aims to be the simplest and most trusted digital assets platform in the region. For more information, please visit www.coinmena.com
About Zodia Markets
Zodia Markets is an institutional digital asset trading business whose mission is to make the unfamiliar, familiar. We are the trusted institutional trading partner for corporations and institutions who want to trade in digital assets, but who don't want to compromise on the standards and principles associated with traditional finance. Zodia Markets is backed by SC Ventures, the innovation, and ventures unit of Standard Chartered, and OSL Group, Asia's leading digital asset company. For more information visit www.zodiamarkets.com.
Contact details: Zeid Bataineh; 00971563519469
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