CoinCorner, a cryptocurrency exchange based in Douglas has made an attempt to promote the utility of Bitcoin in Dubai. The exchange is involved in multiple projects and initiatives aimed to promote and expand the crypto network all over the middle-east.
CoinCorner Partners with Seed Group
The cryptocurrency exchange has announced that it has recently formed a partnership with Seed Group. It is a company that is Sheikh Saeed bin Ahmed Al Maktoum’s, Private Office.
The reason behind the deal between both companies is to promote the utility of Bitcoin. The exchange wants to promote Bitcoin in the United Arab Emirates (UAE).
The best way to promote Bitcoin is to get it involved in the day-to-day activities of the locals in the state. Therefore, it is important that Bitcoin transactions are promoted in the region so they become a common and usual currency.
CoinCorner Gets to Expand its Business
Although CoinCorner does not have much recognition in the American or European region, it has managed to mark its name in the Middle East.
As part of the new agreement between CoinCorner and the Seed Group, the exchange will have the freedom of expanding its crypto network in the UAE.
It will be able to launch multiple operations, services, and products related to cryptocurrencies in the entire region. The exchange’s main focus would be to promote the usage of Bitcoin and major altcoins in the region.
CoinCorner Gains Access to Top Hierarchy
The new agreement also means that the exchange will have direct access to contact the top decision-makers in the region. This way, the exchange will be able to interact with all kinds of sectors belonging to the private and government industries.
Services to Offer
The exchange is eager to promote Bitcoin transactions in the region and it has adopted the lightning network to do it. Lightning Network is an integration that tends to increase the scalability of Bitcoin transactions, killing any disruptions, and latencies.
CoinCorner will be able to launch its trading platform as well for the UAE residents. Using the platform, the users will be able to perform multiple actions with cryptocurrencies.
These actions involve buying, selling, sending, receiving, and hodling of Bitcoin. The local business in the UAE will be able to use the platform to carry out business transactions in cryptocurrencies.
Statement by Seed Group CEO
The Seed Group CEO, Hisham Al Gurg made a statement about the adoption of Bitcoin in the UAE by businesses. He revealed that they have made an agreement with CoinCorner after carrying out their research among the local businesses.
The businesses have shown great interest in adopting Bitcoin as a mode of payment so it will be welcomed by them in the region.