• Latest
Bithumb Kicks Off Middle East Expansion With UAE Crypto Exchange

Bithumb Kicks Off Middle East Expansion With UAE Crypto Exchange

Februar 12, 2019
6 Questions for Rene Reinsberg of Celo – Cointelegraph Magazine

6 Questions for Rene Reinsberg of Celo – Cointelegraph Magazine

März 31, 2023
Judge denies SEC motion to keep Hinman docs secret in Ripple case

Judge denies SEC motion to keep Hinman docs secret in Ripple case

März 31, 2023
The ultimate guide to Miami – Cointelegraph Magazine

The ultimate guide to Miami – Cointelegraph Magazine

März 31, 2023
Dr. Jane Thomason – Cointelegraph Magazine

Dr. Jane Thomason – Cointelegraph Magazine

März 31, 2023
1658007797 celsius is bankrupt with 12b balance sheet hole su zhu.jpg

Celsius is bankrupt with $1.2B balance sheet hole, Su Zhu returns to Twitter and OpenSea purges 20% of employees: Hodler’s Digest, July 10-16

März 31, 2023
6 Questions for Lisa Fridman of Quadrata – Cointelegraph Magazine

6 Questions for Lisa Fridman of Quadrata – Cointelegraph Magazine

März 31, 2023
Jed McCaleb empties XRP wallet after eight-year selloff

Jed McCaleb empties XRP wallet after eight-year selloff

März 31, 2023
Celsius has finally filed for bankruptcy: Law Decoded, July 18-25

Celsius has finally filed for bankruptcy: Law Decoded, July 18-25

März 31, 2023
The ‘godfather of crypto’ risked lifetime in jail, laying foundation for Bitcoin – Cointelegraph Magazine

The ‘godfather of crypto’ risked lifetime in jail, laying foundation for Bitcoin – Cointelegraph Magazine

März 31, 2023
SEC objects to XRP holders aiding Ripple defense

SEC objects to XRP holders aiding Ripple defense

März 31, 2023
Blockchain technology is transforming the real estate market – Cointelegraph Magazine

Blockchain technology is transforming the real estate market – Cointelegraph Magazine

März 31, 2023
1658612147 nfts banned in minecraft sec lists 9 tokens as securities.jpg

NFTs banned in Minecraft, SEC lists 9 tokens as securities and 3AC founder blames cockyness for company meltdown: Hodler’s Digest, July 17-23

März 31, 2023
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Business

Bithumb Kicks Off Middle East Expansion With UAE Crypto Exchange

coinnewsdaily by coinnewsdaily
Februar 12, 2019
in Business
0
Bithumb Kicks Off Middle East Expansion With UAE Crypto Exchange
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

South Korean cryptocurrency exchange Bithumb is planting its flag in the Middle East with the launch of a licensed fiat-to-crypto exchange in the United Arab Emirates (UAE).

The firm announced Tuesday that it has signed a memorandum of understanding (MoU) with the UAE-based firm Nvelop to form a joint venture for the initiative, CoinDesk Korea reports.

Related articles

IoTeX’s MachineFi Lab challenges Big Tech by democratizing IoT to benefit users and businesses

IoTeX’s MachineFi Lab challenges Big Tech by democratizing IoT to benefit users and businesses

Juli 26, 2022
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

Mai 6, 2022

Nvelop was founded by Abu Dhabi-based E11 Investment Fund and Asia-based venture capital firm Trill Ventures Group to fund blockchain businesses in the Middle East and North Africa (MENA) region.

Through the new partnership, Bithumb said, the company plans to further expand in MENA nations, including states such as Saudi Arabia and Bahrain.

Back in June, Abu Dhabi’s markets regulator, the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market issued a regulatory framework under which crypto exchanges must be licensed and approved by the FSRA as crypto-asset businesses. The framework also limits the types of crypto assets that can be used by firms.

The FSRA plans to issue crypto licenses under the scheme from the first half of this year, Bithumb said in today’s announcement. If approved, this means its UAE-based exchange could launch around mid-2019.

Just last week, Bithumb launched a global over-the-counter (OTC) trading desk for digital assets through its Hong Kong-based entity, Bithumb Global.

Bithumb is also seeking to go public in the U.S. through a reverse merger deal. In January, the firm signed a binding letter-of-intent agreement with Blockchain Industries, an investment firm focusing on the crypto and blockchain industry and traded on the U.S OTC markets.

Once the deal is complete, the combined entity would be known as Blockchain Exchange Alliance (BXA), and could potentially become the first U.S.-listed crypto exchange. The firms aim to complete the deal by March 1.

Bithumb was notably hacked for around $30 million back in June 2018, but claimed to have clawed back almost half that amount soon after with assistance from other exchanges. After several months rebuilding its security systems, the firm relaunched user registrations last August.

Dubai image via Shutterstock

Credit: Source link

Share76Tweet48
Previous Post

Cryptos Could Challenge ‚Any Financial Framework‘: New FSB Chair

Next Post

Binance’s Decentralized Exchange Is About to Launch for Public Testing

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

IoTeX’s MachineFi Lab challenges Big Tech by democratizing IoT to benefit users and businesses
Business

IoTeX’s MachineFi Lab challenges Big Tech by democratizing IoT to benefit users and businesses

Juli 26, 2022
ygg sea surpasses 10,000 scholarships in just six months of launch
Alt Coin

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

Mai 6, 2022
5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications
Alt Coin

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin
Alt Coin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
what are wrapped tokens?
Bitcoin

What Are Wrapped Tokens?

April 23, 2022
Load More
Next Post
Binance’s Decentralized Exchange Is About to Launch for Public Testing

Binance's Decentralized Exchange Is About to Launch for Public Testing

Kategorien

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • 6 Questions for Rene Reinsberg of Celo – Cointelegraph Magazine
  • Judge denies SEC motion to keep Hinman docs secret in Ripple case
  • The ultimate guide to Miami – Cointelegraph Magazine
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

Please enter CoinMarketCap Free Api Key to get this plugin works.
✕
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev