1/8 Middle East Crypto News

Hey there! The Middle East is really heating up when it comes to cryptocurrency! Lots of companies are moving in and setting up shop, new products are being launched, and governments are taking notice and starting to encourage crypto adoption.

2/8 Background

Cryptocurrency has been catching on in the Middle East for a few years now. In 2017, the UAE was the first country in the region to legalize bitcoin. Since then, other countries in the area have followed suit, like Bahrain, Qatar, and Oman.

3/8 Companies relocating / opening operations

Lately, some big crypto companies have announced their plans to move or open up shop in the Middle East. For example, Binance, the world's biggest crypto exchange, just got a license to operate in the UAE, and Crypto.com just opened a new office in Dubai.

4/8 New product launches

There have also been lots of new products launched by companies based in the Middle East. Rain, a crypto exchange in the UAE, just launched a new fiat-to-crypto trading platform.

5/8 Government initiatives

Some governments in the Middle East are even taking steps to encourage the use of cryptocurrencies. For example, the UAE's central bank announced plans to make their own digital currency, and the Saudi Arabian government is thinking of making Bitcoin legal tender.

6/8 Fundraising

Lots of crypto companies based in the Middle East have also announced that they're raising money in recent months. BitOasis, a crypto exchange based in the UAE, raised $70 million in a Series C funding round.

7/8 Regulations

While some governments in the Middle East are trying to encourage crypto adoption, others are still working on developing regulations for the industry. For example, the Bahraini government just issued a set of rules for crypto exchanges.

8/8 Conclusion

It's clear that the Middle East is a rapidly growing market for cryptocurrency! Keep your eyes peeled for more news and updates to come!

@SuperteamAE Stay tuned for more updates on Middle East crypto news!