UAE makes a deal to facilitate BTC transactions
UAE makes a deal to facilitate BTC transactions
Bitcoin

UAE makes a deal to facilitate BTC transactions

By Martina Canzani - 22 Sep 2022

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CoinCorner, a global leader in offering Bitcoin and Lightning Network services in more than 46 countries, has partnered with Seed Group, a company of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, to facilitate BTC transactions in the United Arab Emirates.

The agreement will improve BTC transactions

Another step toward mass adoption has been taken.

CoinCorner and Seed Group have signed an agreement to work on a new project together. The main goal, from which the agreement itself stems, is to facilitate the use of the queen of cryptocurrencies in the UAE.

Hisham Al Gurg, CEO of Seed Group and Private Office of Sheikh Saeed bin Ahmed Al Maktoum himself said:

“In addition to individuals, a large number of companies are ready to embrace Bitcoin and other digital currencies as legal tender to make future transactions.

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

Cryptocurrency companies have huge potential in the digital economy of the Emirates.”

The respective tasks of the parties involved

The recent deal struck between Seed Group and CoinCorner is for all intents and purposes a win-win deal for both parties involved.

In fact, Seed Group will help CoinCorner expand its operations in the Emirates and the Middle East, market its products and services effectively and sit at the table with top government and private sector leaders.

At the same time, CoinCorner will focus on creating a user-friendly platform to enable all UAE residents to buy, sell, send, receive, and store Bitcoin, as well as offer solutions to local businesses to process BTC.

CoinCorner therefore wants to develop an extremely intuitive and simple platform in order to engage all, or almost all, possible categories of users.

Everything must be simple and reliable so that BTC transactions no longer appear as something intended for a privileged niche.

In fact, Danny Scott, CEO of CoinCorner, said:

“We are pleased to enter into a mutually beneficial partnership with Seed Group. 

We are committed to making Bitcoin transactions the ‘new normal’ in the UAE with the help of our unique solutions, facilitating instant and frictionless payments.”

We then emphasize that this partnership will give CoinCorner access to one of the fastest-growing economies and increase its opportunities to reach other potential customers based in the Middle East, Africa and Asia regions.

Emirates ready for easy BTC trading

The United Arab Emirates shows itself to be one of the top four countries in the world ready for Bitcoin and cryptocurrency adoption, according to studies.

In fact, the UAE’s Bitcoin and cryptocurrency market is the third largest in the Middle East, with a transaction volume of about $26 billion

During the previous financial year, the market had grown by an astonishing 1,500%.

Martina Canzani

Graduated in Law at the University of Milan. After completing her academic studies, she became interested in the world of blockchain, finding it a powerful tool for redemption. Her passion then turned into a job, and now she invests in early-stage projects in decentralised finance and DAO and writes articles on all the news concerning the crypto world.

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