Al Zarooni Group and Crypto Bulls have paired up to bring the United Arab Emirates (UAE) its first ever officially registered cryptocurrency exchange: the Crypto Bulls Exchange.
Chairman of the Al Zarooni Foundation, Suhail Al Zarooni, stated:
“This will be the milestone for getting global investments opportunity from all over the Globe in UAE, as all financial techs and investors are looking forward in Crypto & Block chain Industry.”
The venture is a result of the collaboration between Al Zarooni Foundation, Crypto Bulls and Gulf Coin Gold (GCG). Shasha Gupta, chief executive and founder of Crypto Bulls exchange said that the crypto industry in the UAE has continued to grow. In the last six months, more than 200,000 traders have joined the exchange. The exchange will be offering fiat trading pairs using the UEA’s local currency, Arab Emirate Dirham (AED), though The Gulf Today reports no further details.
Gupta added that with the help of the UAE government, Crypto Bulls could potentially attract investors from Asia and all over the Middle East.
Ripple recently announced its expansion plans into the Middle East, beginning with the launch of offices in Dubai before the end of the year.