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Crypto-exchange Bitbns launches trading services in the UAE using AED

Biraajmaan Tamuly

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BitbnsUAE offers trading in AED
Source: Unsplash

Noted cryptocurrency exchange, Bitbns, is in the news after it announced yesterday that traders in the UAE would be able to buy and sell on the platform using AED (United Arab Emirates Dirham).

This news comes just days after the company had announced its partnership with Malta-based cryptocurrency exchange, OKEx, an exchange which once was the largest cryptocurrency exchange in the world in terms of reported turnover.

CEO Gaurav Dahake had spoken of plans for Bitbns to launch in the UAE during an interview earlier in July, 2019.

Currently, only the USDT P2P method is enabled to facilitate AED deposits and withdrawals. However, new ways to transact will become available in the near future, according to the announcement posted here.

Only KYC-verified users will be able to withdraw in AED on the exchange. However non-KYC verified users will still be able to trade and deposit on the exchange.

Biraajmaan is a full-time journalist at AMBCrypto covering the US market. A graduate in Automobile engineering, he writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.