Crypto Asset and Blockchain Hub to be developed in DWTC

The Dubai World Trade Centre Free Zone and Cnmena Holding BVI — the parent company of Coinmena, the Shariah-compliant digital asset exchange company licensed and regulated by the Central Bank of Bahrain — entered into a Memorandum of Understanding (MOU) to develop a Crypto Asset and Blockchain Hub at the Dubai World Trade Centre (DWTC).

The agreement was signed at the Coinmena stand during the opening day of the Future Blockchain Summit, one of six events being held at the DWTC as part of Gitex Global 2021, the world’s most complete, experiential technology event, which concludes on October 21.

The MOU was signed by Abdalla Al Banna, vice-president of Free Zone Operations at DWTC, and Coinmena’s founding team which includes Dina Saman, Talal Tabbaa, Yazan Barghuthhi, in the presence of Coinmena’s board members Abbas Zuaiter and Khalid Saad.

The two entities intend to collaborate to develop a Crypto Asset and Blockchain Hub that encourages top regional and international firms to establish a presence within the DWTC Free Zone. With the DWTC providing a unique and regulated ecosystem for businesses seeking local and international opportunities, the DWTC Free Zone is an ideal environment for startups, SMES and corporations to operate locally while reaching international markets. The DWTC and CNMENA Holding will also work together to shape the development of an optimal regulatory environment within the DWTC Free Zone.

Al Banna said: “COINMENA has made great strides in advancing the region’s digital asset exchange landscape.”