CoinMENA, a digital assets exchange based in Bahrain, has partnered with Beyon Money, a financial service app powered by Batelco Financial Services, to give users across the Kingdom the chance to earn up to five per cent cashback when depositing money into their CoinMENA crypto assets wallets.
Now when Beyon Money classic and platinum cardholders use their cards to deposit into their CoinMENA crypto wallets, they earn three and five per cent cashback respectively; in addition to benefitting from access to more alternative investment solutions.
The introduction of a rewards-based system is poised to encourage more consumers to invest in the world of crypto, and of course, will promote seamless fiat to crypto exchanges.
“This offer is attractive for existing and prospective crypto assets investors as it will encourage further investments and participation in the industry. In addition, it will help address the challenge that investors face when shifting their investment from fiat to crypto and back, ensuring their experience and journey is smooth,” said CoinMENA co-founders Talal Tabbaa and Dina Sam’an in a recent joint statement.
“This is what differentiates us as a brand and what we intend to build on as we partner with fintech providers like Beyon Money moving forward.”
Looking ahead, CoinMENA has set its sights on expanding its current portfolio of cryptocurrencies with an eye on becoming a prominent crypto-financial services provider.
“In the near term, we will also start offering financial services built on Web 3.0 and crypto rails, including borrowing, lending, and staking,” Sam’an said.
Tabbaa added: “This is the future of finance as we see it and are determined to be at the forefront of this exciting development.”
CoinMENA is the fastest-growing cryptocurrency exchange in the Middle East, averaging a growth rate of 140 per cent month-on-month since its establishment.
CoinMENA and Beyon Money’s partnership will further solidify Bahrain’s position as a crypto hub. The Kingdom was the first country in the GCC to offer onshore regulations for cryptocurrencies, allowing established banks and financial institutions to work with crypto exchanges for customers to be able to withdraw and deposit their investments easily.