Bitpanda MENA Supports UAE Digitisation Efforts, Unlocking Digital Assets for Local Investors

This post was originally published on The FinTech Times

Despite volatility elsewhere, the crypto sector in the UAE continues to enjoy a period of consolidation and growth supported by several government-led initiatives.

Despite only entering the UAE market as Bitpanda MENA in May 2024, the crypto platform has revealed ambitions to support digitisation efforts in the region by unlocking digital assets for millions of investors.

Efforts to diversify the economy across the UAE are no secret, and the local government has been actively engaging in efforts to move away from economic reliance on oil for over 50 years.

“For decades, this governmental-led [diversification] effort has been reinforced by various mandates, across several industries, to foster a future-proof nation,” explained Walid BenOthman, managing director of Bitpanda MENA. “Crypto has increasingly become a part of this journey, with the UAE recognising the enormous potential that it holds not only regionally but also globally.

“By initiating strategies to integrate crypto as a mainstay within its borders, the country is ushering in a new era to become a leading crypto hub worldwide.”

Despite the global market’s fluctuating nature, revenue in the UAE’s crypto sector is expected to grow by 7.89 per cent annually to reach $395.8million by 2028, up from $292.1million this year. With a 10 per cent

Read the rest of this post, which was originally published on The FinTech Times.

Previous Post

NatWest takes digital ID to the Nordics

Next Post

Verification of Payee: Why pan-European cooperation matters