CoinMENA partners with Beyon Money
CoinMENA will start offering borrowing, lending and staking services on its platform
Bahrain CoinMENA, crypto exchange partners with Beyon Money to give users across Bahrain the chance to earn up to 5% cashback when depositing money into their CoinMENA crypto assets wallets.
The Beyon Money is a financial service super app launched in January 2022 by Batelco Financial Services, a subsidiary of Batelco and the first telecommunications subsidiary in the GCC to be licensed to operate a financial service by the Central Bank of Bahrain.
It is the first fully digital financial super app to deliver direct open banking access to consumers in Bahrain, connecting all the banks across the Kingdom in one app.
Under this offer, Beyon Money Classic and Platinum cardholders can earn 3% and 5% cashback, respectively, for using their cards to deposit into their crypto wallets on CoinMENA, said the company in a statement.
Beyond the financial benefit, Beyon Money users will now have access to all the benefits and alternative investment solutions offered by CoinMENA, the fastest growing cryptocurrency exchange in the Middle East, averaging a growth rate of 140 percent month-on-month since its establishment, it added.
“This is what differentiates us as a brand and what we intend to build on as we partner with fintech providers like Beyon Money moving forward,” they added. CoinMENA and Beyon Money’s partnership will further solidify Bahrain’s position as a leading crypto hub in the region.
On the future outlook, CoinMENA co-founders said they have set sights on expanding the company’s current portfolio of cryptocurrencies with an eye on becoming a leading global crypto financial services provider. “In the near term, we will also start offering financial services built on Web 3.0 and crypto rails, including borrowing, lending, and staking,” the duo stated.
“This is the future of finance as we see it and are determined to be at the forefront of this exciting development,” they added.