Crypto exchange Bitpanda and trading platform CoinMENA have announced a strategic alliance aimed at bolstering the latter’s efficiency.
CoinMENA has operational licenses from the Central Bank of Bahrain and the Dubai Virtual Asset Regulatory Authority (VARA). The platform’s strategic partnership with Bitpanda also seeks to boost the Middle East & North Africa focused crypto entity’s suite of available digital assets products and services.
Market demand
In a comment, CoinMENA co-founders Dina Sam’an and Talal Tabbaa note:
“We are excited to partner with Bitpanda Technology Solutions, an industry leader that shares our commitment to providing top-tier crypto asset trading services. This collaboration will not only enhance trading efficiency but also fulfill one of the most requested features from our users, enabling us to add new crypto assets more rapidly to meet market demands.”
Sam’an also commented on the partnership via a post on X on Aug. 26.
Thrilled to announce our strategic partnership with @Bitpanda_global! Together, we are enhancing trading efficiency and expanding our crypto asset offerings at @CoinMENA. This collaboration marks a significant step forward in our mission to provide users with the most reliable… pic.twitter.com/7nq2YwkFHM
— Dina Sam’an | دينا سمعان (@DinaSaman_) August 26, 2024
Bitpanda will act as a liquidity provider for CoinMENA, enhancing the exchange’s trading efficiency and user experience.
“The MENA region is one of the most ambitious and innovative regions in the world when it comes to crypto assets,” Bitpanda global head Nadeem Ladki, noted. “Bitpanda Technology Solutions provides institutions in the region access to one of the broadest ranges of crypto assets available, in a fully modular way, all with a highly regulated and trusted partner,” Ladki added.
Bitpanda recently partnered with UAE’s RAKBANK to expand the digital assets space in the UAE. The exchange has also joined forces with Coinmotion and struck a major deal with Serie A giants AC Milan.