CoinCorner, a global leader in Bitcoin and Lightning Network services, has partnered with Seed Group, a company in the private office of Sheikh Saeed bin Ahmed Al Maktoum, to facilitate Bitcoin transactions in the United Arab Emirates (UAE).
“Apart from individuals, a large number of companies are willing to adopt Bitcoin and other digital currencies as legal tender for future transactions,” said Hisham Al Gurg, CEO of Seed Group and the private office of Sheikh Saeed bin Ahmed Al Maktoum. “The UAE wants to provide a growth-oriented environment for fintech companies by establishing an ecosystem for digital currencies. Companies dealing in cryptocurrencies have great potential in the Emirati digital economy.
Seed Group will help CoinCorner expand its operations in the Emirates and the wider Middle East, market its products and services effectively, reach its audience and gain access to key government and industry decision-makers private
CoinCorner will focus on establishing a user-friendly platform where UAE residents can buy, sell, send, receive and store bitcoins, as well as provide solutions for local businesses to trade bitcoins.
“We are pleased to enter into a mutually beneficial partnership with Seed Group,” said Danny Scott, CEO of CoinCorner. “We are committed to making Bitcoin transactions the ‘new normal’ in the UAE with the help of our unique solutions, facilitating instant and frictionless payments.”
This partnership will give CoinCorner access to one of the fastest growing economies and increase its opportunities to reach potential customers based in the Middle East, Africa and Asia regions.
According to a recent Forex study, the UAE is among the top four countries in the world that are ready for Bitcoin and cryptocurrency adoption. The UAE’s bitcoin and crypto market is the third largest in the Middle East, with a transaction volume of around $26 billion. In the previous financial year, the market there had grown a staggering 1,500% in 2020-21.