UAE Bank Accounts Now Support Bitcoin and Ethereum Transactions

Crypto exchange M2 has introduced a new feature that enables residents of the United Arab Emirates to directly trade Bitcoin and Ethereum using their local bank accounts.

This integration allows users to convert UAE dirhams into Bitcoin and Ethereum and vice versa through M2’s platform. Additionally, users can deposit and withdraw dirhams, streamlining the process of buying and selling digital assets.

M2’s CEO, Stefan Kimmel, described this update as a key milestone in enhancing the accessibility of cryptocurrencies in the region.

He highlighted that this move aligns with M2’s efforts to simplify the interaction between traditional banking and digital assets, all while adhering to the UAE’s rigorous regulatory standards.

READ MORE:

Crypto Expert Predicts Major Bitcoin Upswing

The exchange, which is licensed by the Financial Services Regulatory Authority in Abu Dhabi, began this new phase of operations on August 16, 2023.

The licensing ensures that M2 meets the high security and transparency requirements set by UAE regulators.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.