What is CoinMENA?

Overview

Key Features

• Licensing & Regulation:
  • Licensed by the Central Bank of Bahrain as a crypto asset service provider (category-3).
  • Also regulated by Dubai’s Virtual Asset Regulatory Authority (VARA) for broker-dealer services13.
• Products & Services:
  • Spot and limit order trading of major digital assets.
  • Over-the-counter (OTC) trading for large transactions, offering dedicated account managers and preferential pricing.
  • Support for multiple fiat currencies including BHD, AED, SAR, USD, KWD, OMR, QAR, and EGP.
  • 24/7 bilingual customer support.
  • Fast deposits and withdrawals via bank transfers and cards1.
  • Partnerships for streamlined crypto transactions with companies like Mesh and Bitpanda Technology Solutions, enhancing liquidity and cross-platform transfers43.
• Market Coverage:
  • Serves users in at least seven MENA markets, backed by major regional and international investors such as BECO Capital, Kenetic Capital, Arab Bank Switzerland, and Alameda Research2.
• Growth & Reach:
  • Claims over 1.5 million registered users, supports 52+ digital assets, and has processed over $2 billion in transactions while operating across 45+ countries1.

Founding & Investment

• Founded: 2019
• Headquarters: King Faisal Highway, Manama, Bahrain
• Total Funding Raised: $9.5 million (Seed VC round)2

Notable Initiatives

• CoinMENA is one of the first crypto exchanges in the MENA region to list leading stablecoins like RLUSD from Ripple, signaling its focus on providing access to innovative digital assets5.

Competitors

• CoinMENA operates in a competitive landscape alongside other regional exchanges such as BitOasis26.

References