Bitcoin
$66,925.47+0.88%
Ethereum
$3,250.15+1.63%
Binance Coin
$606.34+1.45%
Solana
$157.46+2.21%
XRP
$0.54776753+2.27%
Dogecoin
$0.16096085+0.23%
Toncoin
$5.68-7.06%
Cardano
$0.51234903-0.11%
Shiba Inu
$0.00002723+0.72%
Avalanche
$39.18+0.68%
Wrapped Bitcoin
$66,946.64+0.79%
Polkadot
$7.53+1.36%
PlayIconNav
Crypto Prices CoinDesk 20 Index CoinDesk 20 Index
Countdown to Consensus 2024The largest and longest running event that covers all sides of Crypto and Web 3
35
DAYS
21
HR
12
MIN
53
SEC
Policy

Shariah-Compliant Crypto Exchange Wins License From Bahrain Central Bank

Launching soon, CoinMENA said it will offer spot trading in five major cryptocurrencies.

By Tanzeel Akhtar
AccessTimeIconJan 25, 2021 at 12:00 p.m. UTC
Updated Sep 14, 2021 at 11:00 a.m. UTC
Manama, Bahrain
Manama, Bahrain
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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.
  • Once launched, CoinMENA said it will offer spot trading in five major cryptocurrencies: bitcoin, ether, XRP, litecoin and bitcoin cash. It also plans an over-the-counter desk for larger trades.
  • “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.

See also: Coinbase Joins $6M Funding Round for Licensed Middle-East Exchange Rain Financial

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies 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 with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.