UAE Residents Are Finally Able To Trade Crypto Directly With Bank Accounts

Yes, Crypto has made life easier, or at least transactions easier. Since Crypto came along, we’ve learned how to use money better, faster, and even safer. It’s been a fantastic roller coaster, but there’s one problem: converting, buying, and selling crypto with regular money is a pain in the neck. But now, that pain has been treated for UAE residents. 

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Crypto Exchange M2 has finally brought in the cure for the pain users go through when trying to convert money to crypto. The crypto exchange announced that UAE residents would now be able to buy and sell Bitcoin and Ether using nothing more than their own bank accounts. How sweet that is!

This means that your dirhams can be changed into BTC and ETH, but only if you are a UAE resident. The process also works vice versa, so if you have some Bitcoin or ETH but you just need some dirhams at the moment, M2 has got you covered as well. 

It’s already a great deal from M2, but that’s not quite all. There’s one more thing. M2 is also now allowing users to deposit and withdraw dirhams, just dirhams. So, even if you have no business with crypto, you can still use M2. It’s like a one-size-fits-all package for all your money needs, be it crypto or dirhams. Talk about a Swiss army knife.

After the announcement of these new features, the M2 team also mentioned that they believe these new integration features will enable their users to “swiftly adapt to market changes” by being able to convert the local currency into crypto. And this actually makes sense. If the price of one currency goes down, it’s all a matter of a few clicks, and you’ve switched your money into another currency, all in one place, without much hassle. 

Aside from the ease the new features offer customers, the integration is also a win for the company. According to M2, this new service allows them to expand their offerings and set themselves apart from their competitors as the crypto exchange landscape keeps evolving. 

In the words of M2’s CEO, Stefan Kimmel, “It is a significant step for M2 ADGM as we work to expand our offering for the MENA region and reduce the friction on how clients can navigate between traditional finance and virtual assets.” Kimmel also mentioned that the new features have already been approved by the UAE government, which he calls one of the “strictest regulatory frameworks.”

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Different companies constantly release updates and integrations; while some are useful, we’ve also seen some that are pretty much useless. M2 got theirs right. These are features that users want, features that benefit the user and make their lives easier. Thanks to this integration, cryptocurrency has also taken one big step into mass adoption by the public. UAE users will have something to smile about while the rest of the world keeps waiting and hoping that one day, our day will also come.

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