DUBAI, United Arab Emirates--(BUSINESS WIRE)--Aug 31, 2023--
The United Arab Emirates (UAE), which has an impressive 99% 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.
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Bitay Announces Strategic Expansion into the UAE's Burgeoning Crypto Market (Graphic: Business Wire)
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 of Bitay Technology, stated, “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 prioritizes user satisfaction, key differentiator in a competitive market. Its Bitay+ loyalty programme offers users benefits such as low commission rates, personalized campaigns, and even crypto staking with APR rates that adjust based on the user’s level.
Launch campaign features 25% 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% off the current Bitay Coin price and up to 30% 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% 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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230831840755/en/
CONTACT: Niyazi Yılmaz
destek@bitay.com
KEYWORD: EUROPE TURKEY UNITED ARAB EMIRATES MIDDLE EAST
INDUSTRY KEYWORD: TECHNOLOGY CRYPTOCURRENCY PROFESSIONAL SERVICES BLOCKCHAIN
SOURCE: Bitay
Copyright Business Wire 2023.
PUB: 08/31/2023 05:32 AM/DISC: 08/31/2023 05:31 AM
http://www.businesswire.com/news/home/20230831840755/en
