đ„đ„đ„ #UAE residents can now trade crypto directly with their bank accounts
#cryptoexchange M2 has announced that it will enable residents of the United Arab Emirates (UAE) to buy and sell Bitcoin and Ether directly using their bank accounts. In a statement shared with Cointelegraph, the digital asset custodian detailed that the new integration allows UAE residents to convert their dirhams directly into Bitcoin (BTC) and Ether (ETH). Through trading pairs listed on M2âs spot markets, users can trade $BTC and $ETH for dirhams and vice versa, as well as deposit and withdraw dirhams.
The M2 team believes this new integration will help users âswiftly adapt to market changes,â making it easier to convert local currency into crypto.
Wider Accessibility of Virtual Assets in the Region
According to M2, this integration allows the exchange to expand its offerings amid a rapidly evolving landscape. The team views it as a milestone for the âwider accessibility of virtual assets in the region.â
âIt is a significant step for M2 #ADGM as we work to expand our offering for the MENA region and reduce the friction in how clients can navigate between traditional finance and virtual assets,â said M2 CEO Stefan Kimmel.
Kimmel explained that with this integration, UAE residents can trade using familiar banking services along with M2âs functions and security. He also highlighted that this move is regulated by the UAE government, which he described as one of the worldâs âstrictest regulatory frameworksâ prioritizing consumer protection.
#M2 Licensed in the ADGM
The exchange, licensed by the FSRA on August 16, 2023, operates in the Abu Dhabi Global Market (ADGM). It allows UAE clients to buy, sell, and custody digital assets. Kimmel noted the demanding ADGM licensing process ensures high standards for security and transparency.
Source - cointelegraph.com
