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.