Binance crypto exchange has announced the launch of crypto futures products in Bahrain after receiving regulatory permission.   With this Binance Bahrain BSC becomes the   first regulated exchange in the region to offer these services and the only exchange with a CAT4 licence. The launch of these products follows a comprehensive regulatory review and consultation period to ensure that Binance Bahrain BSC, which operates the regulated Binance Bahrain platform, has met the necessary compliance and governance requirements to offer futures products locally in a regulated manner. Eligible local users must complete and pass a mandatory suitability assessment questionnaire in order to access the products.   Tameem Al-Moosawi, General Manager of Binance Bahrain, said: “Binance is committed to compliance and its users, and we are focused on building the local digital assets ecosystem that is sustainable for the long-term.” This announcement comes after cryptocurr...

    Once again Bybit is supporting the crypto and blockchain ecosystem in the UAE. Yesterday it was with DMCC crypto center, and today it is with the University of Sharjah. Bybit has contributed $272.000 equivalent to 1 million AE to establish a scholarship fund to support 20 students to accelerate their academic and research career into fintech and blockchain at the American University of Sharjah. 20 computer science and computer engineering students will benefit from the Bybit Scholarship as soon as this fall. Bybit is also committed to broader initiatives including an extra AED 100,000 to sponsor a hackathon for the blockchain community in the UAE. The first AUS-Bybit Inter-College Hackathon will be held at the AUS College of Engineering in the 2023-2024 academic year. “AUS’ reputation as a center for education excellence stems in part from its strong industry links that allows it to continuously bridge gaps between industry and academia. Through this partnership w...

  In January 2023 Binance celebrated its official entrance into Bahrain. Bahrain’s crypto ecosystem has flourished with the entrance of Binance. Bahrain has witnessed a growth on all fronts, crypto exchange users, crypto payments, crypto jobs and competitive crypto offerings. Binance received its official license in October 2022.   Growth of crypto exchange users   The official license and launch of Binance in Bahrain has added to Binance’s crypto exchange users. Binance announced that it witnessed a 34% growth in institutional business clients in MENA in Q4 2022, the highest growth for a region where Binance operates, Nadeem Ladki, Executive Director Head of BD & Partnerships, Europe & MENA at Binance told LaraontheBlock, “While I cannot go into the specific growth in Bahrain, I can confirm that we have seen a growth in users since we officially launched in October 2022.”   Even Bahrain based CoinMENA; crypto broker also saw an increase in its...

  Blockchain.com announced on twitter that it has signed an MOU with Dubai Virtual Assets Regulatory Authority ( VARA)which they say means that soon both retail and institutional clients will be able to access Blockchain.com through Dubai UAE. The post goes on to add that crypto investors in Dubai and its surrounding regions will soon be able to experience Blockchain.com’s full suite of retail and institutional brokerage tools including custodial services, an exchange, and OTC crypto brokerage services for institutional clients. Blockchain.com also noted that they are opening a local office and will be hiring in the region. As they stated, “We are also actively pursuing a local Minimum Viable Product license, followed by a full license as soon as it becomes available.” Already Blockchain.com is licensed in the U.S. and several other European jurisdictions, and is actively pursuing a license in Germany, Netherlands, France, Spain and Ireland. Blockchain.com is valued at $14 bi...

  Kucoin cryptocurrency exchange has revealed in a report “ Crypto Verse Report on adoption of digital currencies in Saudi Arabia" that 3 million Saudi Arabians are crypto investors who currently own cryptocurrencies or have traded in past six months. This means 3 million out of an adult population of 21 million  or 14 percent currently own cryptocurrencies. The survey also found that another 17 percent of adult population surveyed, was crypto curious and are likely to invest in crypto in the next six months. This would be mean that by the end of 2022, 31 percent of Saudi adult population or 6.6 million will be trading or owners of cryptocurrencies.  The report’s findings highlight sustainable interest among potential crypto investors in the Arab country. In the first quarter of 2022, 49% of crypto investors intended to increase investment in cryptocurrencies over the coming six months. The onset of the bearish market in the second quarter of 2022 saw a reversal of i...