The exchange is Sharia-compliant, having been certified by the Shariah Review Bureau, the company said.
It will offer the deposit, trade and withdrawal of digital assets in a users local currency and on launch will offer trading in five major cryptocurrencies Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC) and Bitcoin Cash (BCH). It will be open to users in Bahrain, Kuwait, Oman, Saudi Arabia and the UAE.
It will also provide over-the-counter services for clients looking to carry out large transactions, the company said. As CoinMENA grows, we will be providing access to additional digital assets and expanding the jurisdictions we operate in, with the view of becoming one of the leading digital assets exchanges on a global scale.”