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Bitay to expand in UAE’s burgeoning crypto market

Bitay offers AEDD, a stable coin pegged to the AED. (WAM)
By TRENDS Desk
September 1, 2023 2:02 am
  • 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.

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.”

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