UAE-based leading personal finance and investing platform, Sarwa has launched cryptocurrency trading through its app.
Sarwa said in a statement that this move makes it easier than ever to centralize all different investments a client looks for in one app, from hands-off long-term investing to self-directed trading.
“Retail investors have been using the platform’s trading product, Sarwa Trade, to buy and sell US-listed stocks and exchange-traded funds. Now, Sarwa Crypto will offer them a commission-free trading experience of Bitcoin, Ether, Litecoin, and Bitcoin Cash with zero transfer cost for AED local accounts, and tight spread,” as per the statement.
Sarwa’s offering comes as a response to its community’s needs and market insights with many retail investors looking to diversify their portfolios to include cryptocurrencies.
According to a recent study, 33 percent of UAE citizens claim to have invested in cryptocurrencies and intend to deposit 25 percent of their investable assets in this asset class.
“Having access to investing in a simple, regulated, and low-cost environment should be a priority and available for all in the region. There is a significant amount of interest in cryptocurrency in the GCC, even with the recent market development. We are launching with the 4 most recognized cryptocurrencies – the ones that were amongst the first to emerge – to give a point of entry in a volatile market. With virtual assets gaining ground and popularity, even authorities are seeing that the potential of the industry is immense and are making sure they create the right frameworks.”
“With Sarwa, we want to provide our community with an app that allows long-term, hands-off investing, while also combining it with the option to make a few selective bets. We continue to deliver on our promise: giving everyone in the region access to simple, smart, and affordable investing in a secure space. Sarwa Crypto will offer just that,” added Mr. Chahwan.
Sarwa’s trading platform includes features such as daily and weekly investing news. Users can do fractional trading, create watchlists, as well as place limits and stop orders, the company added.