UAE residents now have the option to buy and sell Bitcoin and Ethereum directly with UAE Dirhams through their bank accounts on the M2 platform. This new integration is regulated by the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM). It marks a significant milestone in the region’s embrace of virtual assets.
M2 CEO Kimmel Praises New Feature for Aligning with Strong Regulatory Standards
Stefan Kimmel is CEO of M2 platform. He explained that this integration enables the UAE residents to use their recognized and comfortable banking services with the options of the M2 platform enhanced security and functionality. He emphasized that the integration is fully compatible with one of the strongest regulatory environments globally. It focuses on protection of clients’ interests, innovative technologies, and custody.
Kimmel observed that this is an important advancement for M2 because the company wants to diversify its activities in the MENA area. The objective is to reduce the client hurdle when moving from traditional finance to virtual assets. M2’s strategy seeks to close these gaps so that the users will find it possible to connect both the financial realms.
M2 Offers Free Trading Fees for UAE Residents Until August 31
In order to mark this happy event, M2 is providing free trading fees for all UAE residents until the 31st August. As such, the trading of AED-Bitcoin or AED-Ethereum pairs can be made on the said platform without incurring any fees and this could attract a lot of participants to engage in the service.
It lies in the process of the gradual adaptation of virtual assets into the regular financial system, which can be observed on a global scale. Regarding the specifics of its operations, M2 has successfully been laying the foundation for enabling straightforward and secure trading of cryptocurrency for UAE’s local currency through reputable banking systems. The prediction is that such change will help more residents to participate in the development and acquisition of virtual assets to drive the boost of digital finance in the region.
Ultimately, to facilitate the placement of the relevant virtual assets, M2 cooperates with reliable banking services. In this way, M2 is making it easier for users to access and invest in virtual assets.
