Based in the UAE and with operations in Saudi Arabia and Kuwait, ArabianChain, the blockchain technology company has finally gone live with its bitcoin exchange, called Palmex. After months of preparation, the exchange will launch officially with multiple trading assets available including Emirati Dirham (AED), Bitcoin (BTC) and DubaiCoin (DBIX).
Palmex adds another option to the MENA region and plans to offer advanced trading tools, multiple cryptocurrencies, rigorous security measures and low trading fees. Palmex is a product of ArabianChain Technology a UAE-based venture and blockchain technology ecosystem.
ArabianChain is the founder of the first public and decentralized blockchain in the region, along with DubaiCoin (DBIX) the fuel of ArabianChain and the first decentralized minable and tradable cryptocurrency in Arabia.
In October, WaveX, a renewable electricity trading and p2p solar panel financing platform announced it will be the first UAE-based startup to utilize ArabianChain’s blockchain based smart contracts.