Middle Eastern digital assets exchange CoinMENA announced Sunday it has received the green light from the Central Bank of Bahrain (CBB) ahead of its coming launch.
- The certified Sharia-compliant exchange said it has now been awarded a Crypto Asset Services Company license (category 2) from the CBB after meeting a number of technical, and security requirements.
- The platform will become one of relatively few fully licensed and operating digital assets exchanges for retail and institutional investors in the Kingdom of Bahrain, the United Arab Emirates, Saudi Arabia, Kuwait and Oman, per the announcement.
- “Obtaining the license from the Central Bank of Bahrain allows us to operate under one of the most robust and globally-renowned digital assets regulatory frameworks where governance, security, and customer protection are central to all our operations,” said CoinMENA’s managing director, Dina Sam’an.
- A date for the planned launch was not provided.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.