A new cryptocurrency trading platform is gearing up to offer zero-fee trades to users in six countries in the Gulf Region. Announced on Thursday, the platform Fasset Exchange (FEX)  has started sign-ups for its private beta and is planning a public rollout later this year. 

  • According to a press statement emailed to CoinDesk, FEX will be available to investors in Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. 
  • Launched by fintech firm Fasset, the exchange aims to service both tokens backed by real world assets like gold and cryptocurrencies like bitcoin (BTC), ether (ETH) and USDT
  • While the platform doesn't plan to levy trading fees, it will charge consumers for services such as withdrawal and over-the-counter fees. According to the emailed statement, users who sign up for its private beta testing, will have full access to the FEX platform and marketplace. 
  • Earlier in July, Fasset announced the launch of an Ethereum based operating system to help tokenize investment in climate-friendly infrastructure.
Disclosure
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.