CoinCorner, a global leader in Bitcoin and Lightning Network services, has partnered with Seed Group, a company of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, to facilitate Bitcoin transactions in The United Arab Emirates (UAE).
“Apart from individuals, a large number of companies are ready to embrace Bitcoin and other digital currencies as legal tender for future transactions,” said Hisham Al Gurg, CEO of Seed Group and the Private Office of Sheikh Saeed bin Ahmed Al Maktoum. “The UAE wants to offer a growth-oriented environment to fintech companies by establishing an ecosystem for digital currencies. Companies dealing in cryptocurrencies hold huge potential in the Emirates’ digital economy.”
Seed Group will help CoinCorner expand their operations into the Emirates and wider Middle East, market their products and services effectively, reach their audience, and access the top decision-makers in the government as well as private sectors.
CoinCorner will be focusing on establishing a user-friendly platform where UAE residents can buy, sell, send, receive, and store bitcoin, as well as offer local businesses solutions to dealing in bitcoin.
“We are pleased to enter into a mutually beneficial partnership with Seed Group,” said Danny Scott, CEO of CoinCorner. “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.”
This partnership will give CoinCorner access to one of the fastest growing economies and further its opportunities to reach out to prospective clients based in the Middle East, Africa, and Asia regions.
The UAE is amongst the world’s top four countries that are primed for Bitcoin and cryptocurrency adoption, according to a recent study by Forex. The UAE’s bitcoin and crypto market is the third largest in the Middle East, with a transaction volume of around $26 billion. Over the previous financial year, the market there had grown an astounding 1,500% in 2020-21.