CoinCorner, a leading provider of Bitcoin and Lightning Network has partnered with Seed Group, the company of the private office of Sheikh Saeed bin Ahmed Al Maktoum. The private office confirmed the collaboration in a Wednesday blog post on its handle. According to Seed Group, the collaboration will help to facilitate Bitcoin and other crypto transactions in the United Arab Emirates (UAE).
Occasioned by the partnership, CoinCorner intends to devise a bitcoin trading platform for UAE residents. This, as reported, will enable them to buy, sell and trade bitcoin. Additionally, the protocol wants to initiate crypto solutions for local businesses within the country.
Seed Group, in its part, aims to help CoinCorner extend its services into the Emirates and wider Middle East. In a statement, the company revealed its plan to efficiently market the products and services of Coincorner. With this, Seed Group believes CoinCorner will be able to reach its audience, and as well access “the top decision-makers in the government as well as private sectors.”
Seed Group to help CoinCorner market its products – CEO
The CEO of Seed Group, Hisham Al Gurg, reacted to the partnership. According to him, “apart from individuals, a large number of companies are ready to embrace Bitcoin and other digital currencies as legal tender for future transactions.” He reaffirms the commitment of the UAE in offering “a growth-oriented environment” to fintech companies. The UAE intends to achieve this by “establishing an ecosystem for digital currencies,” Al Gurg added. More so, the CEO says Fintech firms dealing in cryptocurrencies hold robust prospects in the Emirates’ digital economy.
Danny Scott, CEO of CoinCorner, in his reaction, hinted that his team is delighted to “enter into a mutually beneficial partnership with Seed Group.” He, however, noted the CoinCorner looks forward to making Bitcoin transactions the “new normal” in the UAE. Scott said the protocol intends to achieve this through its distinctive solutions, which facilitates instant and frictionless payments.”
Notably, the UAE has been consistent in the quest to enhance its virtual sphere. Recently, it unveiled a metaverse project to fulfill its 40,000 virtual jobs aspiration by 2030. The authorities also initiated an agenda, identified as the Dubai Metaverse strategy to actualize its aspiration. Guided by this strategy, the UAE government intends to facilitate innovative efforts to further aid investments in virtual projects. The recent move by CoinCorner compliments the effort of the government in the region. Also, the government constituted a powerful committee to evaluate the trends in the emerging virtual economy. This committee, began its assignment months ago, with the metaverse strategy as its guide.