Turkey-based Bitay expands its services into UAE

By Shilpa Annie Joseph, Official Reporter
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Bitay announces strategic expansion into UAE
Rep. Image | Courtesy: Oleksandr Pidvalnyi @ Pixabay

Bitay, a cryptocurrency platform from Turkey, has expanded its services into UAE’s burgeoning crypto market.

This move aligns with the UAE’s growing stature as a global digital hub and its emphasis on blockchain technology and cryptocurrency. Bitay’s entry into the UAE amplifies the region’s robust digital and crypto landscape. As the UAE continues to attract young, tech-savvy populations and major players in the crypto sector, it solidifies its role as a focal point for financial innovation.

According to the statement, “Kickstarted by a government research grant, Bitay has been operational in Turkey since 2018 and expanded its services globally in 2021.” The platform is licensed as a Money Services Business (MSB) in 16 US states and offers services in multiple countries across Europe, Asia, Africa, and the Americas.

Mr. Niyazi Yılmaz, General Manager of Bitay Technology, stated that “the UAE provides a stable regulatory environment for crypto exchanges. It will serve as more than just a market for Bitay; it will be our technology base, central to our global blockchain strategy.”

Bitay offers a diverse portfolio with over 350 crypto assets. Unique to Bitay is AEDD, a stablecoin pegged to the AED. It aims to provide a competitive edge by offering a low bid or ask price difference.

Mr. Yılmaz added, “AEDD is not just a stablecoin, but a testament to the investment and trust we place in the UAE’s digital future.”

Bitay prioritizes user satisfaction, a key differentiator in a competitive market. Its Bitay+ loyalty program offers users benefits such as low commission rates, personalized campaigns, and even crypto staking with APR rates that adjust based on the user’s level.

The platform also plans to launch an “Advantageous 2nd Sales Period” campaign to mark its entry into the UAE and celebrate the first anniversary of Bitay Coin, as per the company.

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