CoinCorner Partners with Seed Group to Facilitate Bitcoin Transactions in the UAE
CoinCorner, a global leader in Bitcoin and Lightning services, has entered into a strategic partnership with Seed Group, a company of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, to facilitate Bitcoin transactions in the UAE. As part of the agreement, Seed Group will help CoinCorner expand its operations in the emirates and the wider Middle East, reach the right audience, access top decision-makers in the government as well as private sectors, and market their Bitcoin products and services effectively in the region.
CoinCorner, on the other hand, will focus on establishing a user-friendly platform wherein UAE residents can buy, sell, send, receive, and store bitcoin, as well as offering local businesses solutions to deal in bitcoin. According to a recent study by Forex, the UAE is among the top four countries that are most ready for cryptocurrency adoption. With a growing number of cryptocurrency startups and favourable legislation and taxation policies, digital currency is fast becoming popular in the region. The UAE’s crypto market is the third largest in the Middle East, with a transaction volume of about $26 billion. The market grew by an incredible 1,500% in 2020-21 over the previous financial year.
Hisham Al Gurg, CEO of Seed Group and the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, said “Apart from individuals, a large number of companies are ready to embrace Bitcoin and other digital currencies as legal tender for future transactions. The UAE wants to offer a growth-oriented environment to fintech companies by establishing an ecosystem for digital currencies. Companies dealing in cryptocurrencies hold huge potential in the Emirates’ digital economy.”
Founded in 2014, CoinCorner has quickly emerged as one of the leading British Bitcoin exchanges. It has worked extensively with the Isle of Man Government on framing Bitcoin-friendly regulations and making digital currency an acceptable mode of transaction across the UK.
Danny Scott, CEO and co-founder of CoinCorner, said: “We are pleased to enter into a mutually beneficial partnership with SEED Group. The collaboration will help propel our business interests and goals in the MENA region through the group’s support and a strong base of regional connections. We are committed to making Bitcoin transactions the “new normal” in the UAE with the help of our unique solutions, facilitating instant and frictionless payments.”
CoinCorner’s partnership with Seed Group will give it access to one of the fastest-growing economies and further opportunities to reach out to prospective clients based in the Middle East, Africa, and Asia regions. The Seed Group is a notable force in the technology, healthcare, hospitality, and telecommunications landscapes in the Middle East. Over the past 16 years, it has formed successful strategic alliances with leading global companies representing diverse regions to accelerate its sustainable market entry and presence within the Gulf Cooperation Council countries.