Noted cryptocurrency exchange, Bitbns, has announced that traders in the UAE would be able to buy and sell on the platform using AED (United Arab Emirates Dirham). The announcement was made on twitter. As noted, “We know you all have been waiting for this moment for so long; so have we. Today, our efforts have come to fruition as we officially announce the commencement of trading on #BitbnsinUAE
This news comes just days after the company partnered with Malta-based cryptocurrency exchange, OKEx, an exchange which once was the largest cryptocurrency exchange in the world in terms of reported turnover.
CEO Gaurav Dahake had spoken of plans for Bitbns to launch in the UAE during an interview earlier in July, 2019.
Currently, only the USDT P2P method is enabled to facilitate AED deposits and withdrawals. However, new ways to transact will become available in the near future, according to the announcement posted here.
Only KYC-verified users will be able to withdraw in AED on the exchange. However non-KYC verified users will still be able to trade and deposit on the exchange.