DUBAI, UAE – Bitay, a cryptocurrency platform from Turkey, announced its expansion into the UAE’s burgeoning crypto market.
The UAE, which has an impressive 99% internet penetration rate according to a McKinsey study, welcomes Bitay.
This move aligns with the UAE’s growing stature as a global digital hub and its emphasis on blockchain technology and cryptocurrency.
Kickstarted by a government research grant, Bitay has been operational in Turkey since 2018 and expanded its services globally in 2021.
The platform is licensed as a Money Services Business (MSB) in 16 US states and offers services in multiple countries across Europe, Asia, Africa, and the Americas.
Bitay offers a diverse portfolio with over 350 crypto assets. Unique to Bitay is AEDD, a stable coin pegged to the AED. It aims to provide a competitive edge by offering a low bid/ask price difference.
Yılmaz added, “AEDD is not just a stable coin, but a testament to the investment and trust we place in the UAE’s digital future.”
