This UAE-based startup launches the first cryptocurrency exchange platform in the Middle East

ArabianChain, a Dubai-based blockchain startup has officially launched Palmex, one of the first digital asset exchange platform in the Middle East and North Africa.

What Palmex really does is that it offers investors and amateurs an innovative and intuitive user experience which includes advanced trading tools, multiple cryptocurrency pairs, rigorous security measures and minimal trading fees.

In 2011, ArabianChain founder and CEO Mohammed Alsehli “stumbled” across bitcoin, and made his first purchase for $3.50 and selling it for $27. According to Mohammed Alsehli, the demand to trade and issue bitcoins have increased exponentially, especially with the rapid evolution of blockchain technology.

“The regional market is ripe and hungry for a user-friendly platform that makes it possible for them to buy and sell in a secure environment, and Palmex is set to play an increasingly vital role as cryptocurrencies continue to disrupt the traditional global financial system,” he said.

With Palmex, registered users can directly start depositing and then trading several coins through various pairs such as DubaiCoin (DBIX), bitcoin (BTC), ethereum (ETH), ripple (XRP) and many other cryptocurrencies. There are no fees for registration on Palmex while low competitive fees are charged for deposit, withdrawal and trading.

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