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.