The Middle East is a crucial sector for finance and fintech. The same applies to cryptocurrencies, although there is room for new competitors to emerge. Burency aims to make cryptocurrencies more appealing and accessible by focusing on many different aspects.
Cryptocurrencies In The Middle East
Over the past few years, there has been a growing presence of cryptocurrency-related service providers across the Middle East. Numerous exchanges and trading platforms provide services to a growing group of users. Moreover, the Gulf states have confirmed their vision for Bitcoin and other digital assets in late 2020.
These positive developments give rise to a healthy and competitive ecosystem. For Burency, the largest crypto exchange in the region, it allows them to expand their presence. With over 45 trading pairs, contract trading, and an OTC desk for large purchases, the company has risen the ranks rather quickly. At its core, the team wants to boost the widespread adoption of blockchain technology and cryptocurrency across the Middle East.
To grow the business beyond trading and exchanging, Burency also plans to be active in the mining segment. Additionally, Burency has a Blockchain Development center to advise enterprise clients on distributed ledger applications and opportunities. Education is an essential part of bringing more positive attention to the cryptocurrency and blockchain industry.
Exploring New Boundaries
Just like the cryptocurrency and blockchain industry continues to evolve, so do the companies providing related services. The next objective is to launch a native payment card. The Burency Credit Card will make it easier for users to spend their crypto assets, especially in the MENA Region. As native adoption of cryptocurrencies remains relatively low globally, using intermediary solutions, such as credit cards and Bank solutions will come soon to make the users able to cash out their crypto to their bank account.
Other milestones to complete including the mining farm and focusing on blockchain business solutions. That latter option will introduce more people to the benefits of distributed ledgers across the Middle East. As one of the biggest hubs for all financial activity, the region can benefit from better efficiency, accessibility, and transparency.
It is interesting to see how "traditional" cryptocurrency exchanges are bridging out to explore numerous industry opportunities. It is essential to tackle the industry from many different sides to ensure broader participation. Going beyond traditional trading and focusing on mining, blockchain education and investing, and setting up a data center can all be worthwhile options.
Regarding the mining facility and data center, investors can get in on the action through the native BUY token. The token grants access to timeshare slots for the mining facility. Additionally, Investors can also use it to acquire computational power via the data center.
The Middle East is an exciting region for everything finance-related, including cryptocurrencies and blockchain technology. Soon the middle east will have its own crypto whales, and Burency is the best exchange for them since they speak and think their language. More competitors entering the space will benefit traditional enthusiasts and investors who remain on the fence about entering either industry. With a strong focus on expanding the reach and appeal of both ecosystems, Burency focuses on what is really important today.
The future of cryptocurrency and blockchain looks exciting. More and more people - and corporations - show an interest in this space, solidifying its overall appeal and viability. There is still a long way to go until mainstream adoption can be achieved, however. Efforts like these provide essential building blocks for a future where decentralization takes center stage, rather than being considered a niche.