M2 Launches Direct Crypto Trading in UAE, Allowing Dirham Transactions for Bitcoin and Ether
Jul 31, 2024
M2, a digital asset custodian, has announced a new integration that enables residents of the United Arab Emirates (UAE) to directly buy and sell Bitcoin (BTC) and Ether (ETH) using their bank accounts. This service allows users to convert their dirhams into these cryptocurrencies and vice versa, enhancing the accessibility and convenience of trading in the UAE. The integration also supports depositing and withdrawing dirhams, catering to both retail and institutional investors .The platform has been granted financial services permission by the Abu Dhabi Global Market (ADGM), ensuring that M2 meets stringent regulatory standards for security and transparency. This step is part of a broader effort by the UAE to regulate and protect consumers in the cryptocurrency space, reflecting the region's commitment to maintaining a secure and compliant market environment.
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