Cryptocurrency exchange Bitbns will now allow UAE-based cryptocurrency traders to buy and sell on the platform using dirhams, the firm has announced.
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 https://t.co/GHnVGbgfiN#TheFutureOfFinanceIsHere #Cryptocurrency #Blockchain pic.twitter.com/sPWNQU6qgX— Bitbns (@bitbns) August 31, 2019
At the moment, only the USDT P2P method is enabled to allow AED deposits and withdrawals.
New transactions method will become available in the near future, the company said in a statement.
However, only KYC-verified customers will be able to withdraw in AED on the exchange. Those not yet verified will be able to trade and deposit.
The company’s statement on the move noted that UAE-based customers will now able to make bracket orders – in they enter and exit the market at the time of their choosing – as well as margin trading, stop-limit orders, margin lending, limit orders, and price alerts.
More than 70 cryptocurrencies are currently listed on the exchange.
The announcement comes shortly after Bitbns announced a partnership with Malta-based OKEx, which was formerly the world’s largest cryptocurrency exchange in terms of turnover.
“We will be assisting each other to grow our reach and strengthen the exchange technically,” the statement said.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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