Cryptocurrency enthusiasts in the United Arab Emirates (UAE) can now breathe a sigh of relief. CoinMENA, a leading virtual asset service provider licensed in Dubai and Bahrain, has joined forces with Network International, a regional powerhouse in digital commerce solutions. This strategic partnership aims to simplify the process of converting fiat currency (like dirhams) into cryptocurrency, a hurdle often referred to as an “onramp.”
Previously, UAE residents interested in buying crypto on CoinMENA might have had to navigate bank transfers or other, potentially less convenient, methods to deposit funds. The new collaboration with Network International streamlines this process significantly. CoinMENA users will now be able to directly deposit fiat currency into their wallets using debit or credit cards. This eliminates the need for intermediary steps and allows for near-instantaneous deposits, significantly enhancing the user experience.
For CoinMENA, this partnership represents a major step forward in its mission to make crypto investing more accessible and user-friendly in the UAE. “Partnering with Network International…marks a significant milestone in our commitment to providing our users with seamless and secure onramps to crypto,” said CoinMENA co-founders Talal Tabbaa and Dina Saman in a joint statement. They highlight the importance of offering card deposits for streamlined and efficient transactions, aligning with their goal of making crypto services more convenient.
Network International, with its 30-year track record of providing cutting-edge payment solutions, sees this collaboration as an opportunity to leverage its expertise in a burgeoning market. “Our collaboration with CoinMENA will provide UAE investors with an additional option to use their cards to fund their crypto endeavors,” stated Pankaj Kundra, Group Head of Products, Partnerships, and Enterprises at Network International. Network International positions itself as a facilitator, capitalizing on its experience to bridge the gap between traditional finance and the next generation of digital assets.
The impact of this partnership extends beyond just convenience for individual investors. By simplifying the onramp process, CoinMENA and Network International are expected to contribute to the wider adoption of cryptocurrency within the UAE. As more users find it easier to enter the crypto market, the overall activity and investment in the sector are likely to witness a boost. This could potentially unlock new avenues for financial inclusion and innovation in the UAE’s rapidly evolving financial landscape.
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This article first appeared on The WIRE and is brought to you by Hyphen Digital Network
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