Bitex cryptocurrency exchange launches in UAE

23 Nov, 2018
by Ryan Boltman
News
Bitex cryptocurrency exchange launches in UAE

Bitex crypto exchange has finally launched in the UAE this week. The exchange is looking to offer easier access to buying and selling of digital assets in the middle east reports Bitcoin News.

The Dubai based crypto exchange looks to lead the way in the middle east when it comes to offering a cryptocurrency trading platform and wallet. 

Bitex will launch with just Bitcoin, Bitcoin Cash, Ethereum and Litecoin available to trade for customers. The exchange will also be launching a cryptocurrency wallet. The exchange will allow users to buy cryptocurrencies using bank transfer as well as bank cards. A cash deposit service will also be available. 

Bitex CEO Monark Modi believed the timing is perfect for the launch of the exchange citing that the UAE government had made great strides in cryptocurrency adoption. The exchange will make it easier for locals to deposit and withdraw fiat currencies when trading cryptos, a key benefit Modi believes. 

The move most certainly pushes the middle east into the race to become a blockchain pioneer and cryptocurrency leader in the future. The UAE has shown a keen interest in blockchain technology and are looking to become a world leader in the industry. 

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