Could UAE ZelaaPay be launching a mini Binance and Coinbase?

In November Sahil Arora Founder and CEO of Zelaapay announced that the company had officially launched its offices in In Emirates Towers in Dubai UAE, just below His Highness Sheikh Mohammed Bin Rashid Al Maktoum Offices.

As Arora stated, “the aim is to build blockchain powered payments ecosystem for the UAE. Prior to this ZelaaPay partnered with Klever Blockchain wallet in addition to its partnership with Digibyte Foundation as well as launched a defi platform for realestate investment.

Recently Arora tweeted that if Binance and Coinbase had a baby it would look like Zelaapay and asked readers to stay tuned to see what that statement meant using the hashtag attached was  #xchangetheemiratesrocket

It seems Zelaapay could be announcing a crypto exchange of sorts in the UAE, we will just have to wait and see in 2021.

As an update to this article, when UNLOCK published this, we received various comments with regards to the integrity and nature of Zelaapay, as UNLOCK we thought it would be best to share them for our readers' consideration. These are some of the links to twitter comments which believe Zelaapay is a scam based on their own assessments and experiences with some discussing whether Zelaapay is actually regulated while some doubted the ability of the founders of Zelaapay to implement the projects in question.

UNLOCK has requested a full interview with the Founder of Zelaapay to learn more and reply to the comments shared.