Beyon Money cardholders in Bahrain now will earn 3% to 5% cashback for using their cards to deposit into their crypto wallets on CoinMENA. CoinMENA and Beyon Money’s partnership will further solidify Bahrain’s position as a leading crypto hub in the Middle East.
CoinMENA has partnered with Beyon Money, a financial service app powered by Batelco Financial Services, to give users in Bahrain the chance to earn up to 5% cashback when depositing money into their CoinMENA crypto assets wallets, a first of its kind service in the region.
“This offer is attractive for existing and prospective crypto assets investors as it will encourage further investments and participation in the industry,” said CoinMENA co-founders Talal Tabbaa and Dina Sam’an in a press release. “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. 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.”
Beyon Money Classic and Platinum cardholders earn 3% and 5% cashback, respectively, for using their cards to deposit into their crypto wallets on CoinMENA.
Beyond the financial benefit, Beyon Money users will now have access to all the benefits and alternative investment solutions offered by CoinMENA, the fastest growing cryptocurrency exchange in the Middle East, averaging a growth rate of 140% month-on-month since its establishment.
“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.
“This is the future of finance as we see it and are determined to be at the forefront of this exciting development,” Tabbaa added.
CoinMENA has set its sights on expanding its current portfolio of cryptocurrencies with an eye on becoming a leading global crypto financial services provider.
In January, CoinMENA obtained a cryptocurrency license from the European Union. As a result, CoinMENA is now expanding to new jurisdictions in the MENA region and beyond, as well as increasing the number of crypto assets and crypto financial services on the platform.
Also, CoinMENA has received a “crypto asset services company license” from the Central Bank of Bahrain (CBB) after meeting all of the requirements set forth by the authority. As a result, CoinMENA has become one of a few fully licensed and operating digital assets exchanges in the region.