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Bitay announces strategic expansion into UAE's burgeoning crypto market

Bitay’s entry into the UAE amplifies the region’s robust digital and crypto landscape

Published: Fri 1 Sep 2023, 10:03 AM

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The UAE, which has an impressive 99 per cent internet penetration rate according to a McKinsey study, welcomes Bitay, a cryptocurrency platform from Turkey. This move aligns with the UAE’s growing stature as a global digital hub and its emphasis on blockchain technology and cryptocurrency.

Kickstarted by a government research grant, Bitay has been operational in Turkey since 2018 and expanded its services globally in 2021. The platform is licensed as a Money Services Business (MSB) in 16 US states and offers services in multiple countries across Europe, Asia, Africa, and the Americas.

Niyazi Yılmaz, general manager at Bitay Technology, said: "The UAE provides a stable regulatory environment for crypto exchanges. It will serve as more than just a market for Bitay; it will be our technology base, central to our global blockchain strategy."

The AEDD coin offers a competitive edge

Bitay offers a diverse portfolio with over 350 crypto assets. Unique to Bitay is AEDD, a stable coin pegged to the AED. It aims to provide a competitive edge by offering a low bid/ask price difference. Yılmaz added: "AEDD is not just a stable coin, but a testament to the investment and trust we place in the UAE's digital future."

Bitay prioritises user satisfaction, key differentiator in a competitive market. Its Bitay+ loyalty programme offers users benefits such as low commission rates, personalised campaigns, and even crypto staking with APR rates that adjust based on the user’s level.

Launch campaign features 25 per cent off Bitay Coin

The platform also plans to launch an 'Advantageous 2nd Sales Period' campaign to mark its entry into the UAE and celebrate the first anniversary of Bitay Coin. This limited-time offer features up to 25 per cent off the current Bitay Coin price and up to 30 per cent bonus earnings on USDT investments, highlighting Bitay’s ambition to be a dominant player in the region.

Bitay Coin, the native asset of Bitay’s ecosystem, has recorded a 330 per cent gain in its first year, outperforming notable assets like Bitcoin, gold, and even shares of global brands like Apple and Tesla.

Bitay’s entry into the UAE amplifies the region’s robust digital and crypto landscape. As the UAE continues to attract young, tech-savvy populations and major players in the crypto sector, it solidifies its role as a focal point for financial innovation.

For more information, email: destek@bitay.com.



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