In the aim of global expansion, CoinW, a well-known cryptocurrency exchange, concluded a highly impactful series of events in the MENA region.
Spanning two crucial industry gatherings – the DATE Fintech Show in Saudi Arabia and the Global Blockchain Congress in Dubai, UAE – CoinW’s presence transcended mere sponsorship, marking a strategic leap into the MENA market.
Carmen Tan, CoinW’s Chief Communications Officer, shared valuable insights during a panel discussion at the Global Blockchain Congress. Titled “The Future of Crypto: Regulatory Uncertainty and the Way Forward,” the discussion centered on the evolving legislative landscape worldwide.
Carmen emphasized, “The days of unchecked profits by unregulated entities are fading. Models like Dubai’s VARA offer a balanced approach, fostering innovation within clear guidelines, a principle CoinW deeply values.”
The discourse highlighted the importance of aligning with robust regulatory frameworks, leveraging the UAE’s progressive stance on virtual assets.
With key emirates like Dubai and Abu Dhabi emerging as crypto hubs, CoinW’s proactive strategy in the region dates back to its relocation of headquarters to Dubai in 2021.
By mid-2023, CoinW secured initial approval from VARA, laying a strong foundation for its MENA operations. Simultaneously, a tailored CoinW product tailored for MENA users was developed.
According to the company, CoinW’s ethos revolves around a hybrid approach, combining self-regulation and legal frameworks.
By embracing and adapting to MENA’s dynamic regulatory landscape, CoinW charts a course towards fostering innovation while ensuring compliance and security in the evolving crypto sphere.