ArabianChain’s Cryptocurrency Exchange Launches in the Middle East

Dubai-based blockchain startup ArabianChain has officially launched Palmex, a  digital asset exchange platform that makes is possible for investors to buy, sell and trade cryptocurrencies securely. Palmex, which came online on 30 October 2017, is one of the first digital asset exchanges to be born out of the Middle East and North Africa region. The exchange offers investors and amateurs an intuitive user experience with advanced trading tools, multiple cryptocurrency pairs, rigorous security measures and minimal trading fees.

ArabianChain founder and CEO Mohammed Alsehli.

Commenting on the launch of Palmex, ArabianChain founder and CEO Mohammed Alsehli said: “The demand to trade and issue digital assets has grown exponentially with the phenomenal surge in valuation of cryptocurrencies like Bitcoin and 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.”

Palmex enables registered users to 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.

Alsehli added: “Blockchain is as game changing as the internet because it redefines the way people and organizations exchange information and carry out financial transactions. As a one-of-a-kind professional digital asset exchange, Palmex paves way to digitize the region through blockchain-led transformation. With our secure platform, organizations and users will be able to work together with more trust. Moreover, we believe Palmex is a critical building block to comprehend, embrace and optimize the use of blockchain technology and propel the region’s innovation-driven economy.”

Based in the UAE and with operations in region, ArabianChain is the leading Middle Eastern innovator in the blockchain industry. The company enables governments, enterprises, startups and individuals to use blockchain-based tools and languages and build and record their transactions and contracts on its platform.