Crypto

Bitcoin makes a grand debut in Dubai

The Komainu joint venture has entered Dubai to expand the cryptocurrency space in the United Arab Emirates. The Japanese joint venture should have happy days in the UAE given the current expansion of the cryptosphere. Comainu is visibly integrating the Japanese crypto market using Bitcoin.

The project will bring new perspectives in the field of digital assets to Dubai. Komainu will provide the Emirati community with the opportunity to use bitcoins in compliance with the necessary rules. However, entering this market is not child’s play. The joint venture is negotiating with Dubai regulators.

Comainu enters Dubai

Comainu made his case for going to Dubai and integrating Bitcoin there. Sebastian Widmann, director of strategy at Komainu, noted that the joint venture’s entry into the Mena region will allow bitcoin institutions to operate in a regulated crypto market.

This regulation protects both institutions and individuals using crypto assets. This is a great opportunity for crypto investors in Dubai.

Recall that Komainu is an association of Nomura, a major bank in Japan, CoinShare and the Ledger wallet. The association between the three companies was born in 2018. The joint venture was able to enter the cryptocurrency market thanks to the approval of the Jersey Financial Services Commission.

The joint venture has been offering its services to crypto-currency institutions in particular since 2020. The market for a joint venture is expanding significantly. This would be one of the reasons that prompted him to operate in Dubai.

The approval is still preliminary

Comainu is temporarily in Dubai. The received title of the teachings does not yet allow him to stay there permanently. In any case, the UAE cryptocurrency market is on a promising path. Investors in the sector should no longer get lost in the market.

Dubai is already starting to slowly approve players in the crypto sector. Cryptocurrency exchange OKX, for example, received pre-approval before Comainu applied. Comainu will also be on track for full approval.

Comainu and his projects in Dubai

Comainu plans to permanently move to Dubai to become a regulated digital asset institution. In this case, he will have a position similar to that of traditional financial institutions. In other words, he will have the ability to regulate the use of bitcoin in the country.

Comainu also intends to open its regional headquarters in Dubai. This is a strategy that will allow him to dominate the cryptocurrency market in the United Arab Emirates.

In short, Bitcoin’s entry into Dubai is not yet completely won. However, this trial period may be extended.

Victoria

Passionate about cryptography, NFTs and everything related to the blockchain, I share all my tips with you on my blog! Attention, I am not an expert and what I say should in no case be taken as absolute truth. I am not an investment consultant 🙂

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