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.

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.