UAE Based Sarwa now offers crypto trading service

UAE Based Sarwa now offers crypto trading service

UAE Sarwa, hybrid automated investment platform regulated by DFSA (Dubai Financial Services Authority) has now added crypto to its trading platform. Sarwa Crypto, a product of Sarwa Digital Wealth Capital Limited regulated by ADGM FSRA,  will offer four major cryptocurrencies, Bitcoin, Bitcoin Cash, Ethereum and Litecoin.

The statement on LinkedIn says, “We are super proud to announce that Sarwa is launching Crypto in our trading platform for clients. This latest product release comes after months of hard work.  Sarwa Crypto will allow users to trade crypto coins such as Bitcoin, Bitcoin Cash, Ether, Litecoin, and more to come in the future. In addition there is no account minimum and no transfer fees for local AED accounts.”

Co-Founder, Nadine Mezher commented, “People might ask, in this volatile market? Yes, absolutely. Our product offering is not tied to booms and drops. It’s about understanding the needs of our community and how we can provide them with investing within a safe environment. So we are starting with 4 currencies – the ones that were amongst the first to emerge, as a point of entry.”

Prior to this Sarwa offered within it portfolio exposure of 5 percent to Bitcoin through GrayScale Bitcoin Trust. This was under the regulation of ADGM in Abu Dhabi.

This latest announcement, for Sarwa Crypto, comes just after a few months of launching Sarwa Trade. The World Economic Forum placed Sarwa as one of the Top 14 Fintech shaping the 4th industrial revolution. UAE Dubai International Financial Centre invested in Sarwa, as part of a 100 million USD fund, to help companies seeking access to Middle East, Africa and South Asia. Even Abu Dhabi Investment Office invested as well in Sarwa.

In 2021 Saudi Arabia’s Capital Market Authority granted Sarwa FinTech ExPermit to experiment Robo-Advisory Service in the country.

Binance enables Dubai Hotel with crypto payment gateway

Binance enables Dubai Hotel with crypto payment gateway

In a recent article Binance announced that it had enabled a Dubai Hotel to offer crypto payment facilities. The hotel in question is the Manor by JA resorts located in Al Furjan. As per the article the The Manor hotel is settling payments in BNB (Binance coin), Bitcoin and Ethereum through Binance crypto to crypto payment gateway.

As per Mohammed Hanif Al Qassim, Managing Partner of The Manor Hotel, “Virtual assets go in line with The Manor’s vision for sustainability and digital transformation, considering its position among top eco-friendly boutique hotels in Dubai.”

Richard Teng, Regional Head of MENA at the crypto-platform, “Binance has been actively engaging established local businesses and institutions to further increase the adoption of crypto for our users and the crypto community as a whole. Our partnerships with leading, innovative businesses, such as JA are in line with our vision to enhance crypto adoption across the region.”

Prior to this Property developers and Hotel managers such as DAMAC also announced they would be accepting crypto payments. UAE DAMAC Properties is accepting crypto payments either Bitcoin or Ethereum.

Even UAE Property firm Your place partnered with Utrust, a cryptocurrency payment solution designed to modernize the finance and payments industry offers clients the ability to pay for properties in Dubai UAE using cryptocurrencies.