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Crypto company CoinCorner enters into a partnership in Dubai to facilitate bitcoin transactions…Details here

Crypto company CoinCorner enters into a partnership in Dubai to facilitate bitcoin transactions…Details here

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Answer Crypto company CoinCorner enters into a partnership in Dubai to facilitate bitcoin transactions…Details here

Crypto company CoinCorner has partnered with Seed Group, the latter of which is a subsidiary of the private office of Sheikh Saeed bin Ahmed Al Maktoum, to facilitate bitcoin transactions in the UAE.

Under the agreement, Seed Group will help expand CoinCorner’s operations across the UAE
and the broader Middle East, as well as access to key decision-makers in the government and private sectors.

Promoting bitcoin transaction solutions and lightning network services in the region is also one of the areas that were agreed upon in the partnership and deal.

plan CoinCorner to create an easy-to-use platform that enables UAE residents to buy, sell, send, receive and store bitcoin, as well as offering local business solutions for dealing with cryptocurrency.

Read:The Saudi Arabian Monetary Agency (SAMA) uses blockchain technology to deposit part of the liquidity in the banking sector

Hisham Al Gurg, CEO of Seed Group and the private office of Sheikh Saeed bin Ahmed Al Maktoum, said in a statement:

Regardless of individuals, there are a large number of companies willing to adopt Bitcoin and other digital currencies as legal tender for future transactions.

The UAE wants to provide a growth-oriented environment for fintech companies by creating an ecosystem of digital currencies.

Companies dealing with cryptocurrency have huge potential in the UAE’s digital economy.

According to CoinCorner co-founder Danny Scott, the move is part of the broader goal to make bitcoin transactions in the UAE easy and accessible.

The partnership will give British cryptocurrency firm CoinCorner access to the third largest cryptocurrency market in the Middle East, with a transaction volume of nearly $26 billion.

Over the past several months, several crypto companies, such as FTX and CryptoCom, have flocked to the UAE to take advantage of what appears to be a lucrative market under the new law that aims to position the country as a major crypto hub.

Read:Find out the number of visitors to cryptocurrency exchanges in February 2022

Recently, Binance entered into a strategic partnership with Virtuezone to focus on Web 3 development in the UAE.

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