CoinW strengthens its presence in the MENA region
CoinW strengthens its presence in the MENA region
CoinW, the world’s first cryptocurrency exchange to return to the Middle East and North Africa (MENA) region, successfully concluded an intensive event schedule earlier this week. Two key industry events took place simultaneously in the region: the DATE Fintech Show in Saudi Arabia and the Global Blockchain Congress in Dubai, UAE.
CoinW’s participation in these events extends beyond raising local brand awareness through gold sponsorship. This marks a strategic move to strengthen its global expansion into the MENA region. Carmen Tan, CoinW’s Chief Communications Officer, provided insight into the exchange’s strategic approach to the MENA market during a panel discussion at the Global Blockchain Congress.
In a panel discussion titled “The Future of Cryptocurrencies: Regulatory Uncertainty and the Way Forward,” Carmen highlighted significant changes in the global legislative agenda. She said: “The days of unregulated companies making significant profits without regulators’ oversight are over. A balanced approach, such as Dubai’s VARA model, can foster innovation while addressing concerns. CoinW will therefore always provide clear guidance. “I consider it important,” he pointed out.
Carmen emphasized the importance of embracing more friendly and stronger legislative bodies. For example, the regulatory framework for virtual assets in the UAE has proven advantageous as it values web3 and is actively putting in place a stronger legal framework. Major emirates Dubai and Abu Dhabi are already functioning as cryptocurrency hubs.
In fact, CoinW targeted the MENA region a few years ago. In 2021, CoinW headquarters moved to Dubai. By June 2023, CoinW had obtained initial approval from the Dubai Virtual Asset Regulatory Authority (VARA), establishing a solid foundation for operations in the region. At the same time, a customized version of CoinW’s products was developed for MENA users.
Built on a powerful hybrid approach that combines self-regulation and a legal framework, CoinW has a unique yet broad vision to transform the next generation of finance.
