CoinMENA becomes first regional crypto exchange to enter Qatar

CoinMENA has become the first regional digital assets exchange to operate in Qatar.

Starting May 19, Qatari citizens and residents can open accounts with CoinMENA and access all the features within the platform, including linking their bank accounts to their CoinMENA wallets in order to enable streamlined deposits and withdrawals.

The Bahrain-headquartered firm recently became the first onshore licenced crypto exchange to introduce limit trading, enabling the platform’s users to set the price at which they wish to buy and sell crypto.

Users in Qatar will also be able to utilise the recently added features including withdrawing USDT via the TRON network for lower fees, and earning bonus rewards when they invite their friends through its referral programme.

“We are delighted to become the first crypto exchange to offer our services in Qatar. Investors have been asking about our plans to enter the country for some time now, so this news represents a major milestone on our long-term geographic market expansion plans,” said CoinMENA co-founders Dina Sam’an and Talal Tabbaa. “Our team is constantly striving to onboard new countries and introduce new features to a wider audience.”

#Qatar, we’re here! ???#CoinMENA is the first regulated crypto exchange to launch in Qatar!

?If you are a resident of Qatar head over to CoinMENA to sign up and begin your #crypto journey today

Share your referral link and earn a bonus when your friends verify their account. pic.twitter.com/NsvuB1EwTM

— CoinMENA | كوين مينا (@CoinMENA) May 19, 2022

In January, the Central Bank of Bahrain issued the exchange, with a “Crypto Asset Services Company License – Category 2”. The Bahrain-headquartered digital asset exchange received the licence after reportedly meeting all of the operational, technical, and security requirements outlined by the CBB. CoinMENA is Sharia-compliant exchange, certified by the Shariyah Review Bureau.

Read: Central Bank of Bahrain licences Sharia-compliant cryptocurrency exchange CoinMENA

Meanwhile, last year, the Dubai World Trade Centre Free Zone and CNMENA Holding BVI, the parent company of CoinMENA, agreed to develop a crypto asset and blockchain hub at Dubai World Trade Centre (DWTC). At the time, DWTC and CNMENA Holding said that they will work together to develop an optimal regulatory environment within the DWTC freezone.

Read: CoinMENA partners with DWTC to set up crypto asset and blockchain hub in Dubai