Crypto exchange got regulatory sandbox license in Bahrain

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5 months ago
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Palmex, the Dubai digital assets exchange, received the official license for regulatory sandbox development. It makes Palmex the first exchange with such approval in MENA region (Middle East & North Africa). The license will be valid since today.

This “sandbox” is meant to be a safe space that should assist businesses to improve their services, innovative products and platforms.

Mohammed Alsehli, founder and CEO of Arabianchai, notes the company “will start with a limited number of select users to test and optimize the process and then expand to the pthers”. He also believes that citizens’ awareness about cryptocurrency will raise leading to active trading and token-based fundraising in MENA.