Talk of cryptocurrencies is everywhere but in the Middle East it hasn’t kicked off as much. But that is probably set to change as there is a growing interest in cryptocurrencies in the region. In fact, one of Saudi Arabia’s major newspapers features the daily value of Bitcoin on it.

Recently, blockchain startup Arabian Chain that was founded by a group of Saudis has launched its own cryptocurrency exchange platform called Palmex.

According to Zawya, Palmex is an easy-to-use professional digital asset exchange platform in which users can trade in cryptocurrencies.

 The platform has all the tools to give an intuitive user experience to a wide range of customer from newbies to serious crypto investors. Palmex also claims that they charge minimal trading fees, a thing that has been complained about other exchanges based in the region as they have higher trading fees when compared to their international counterparts.

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Arabian Chain also has their own cryptocurrency called Dubai Coin which can also be traded on Palmex. 

We built a platform to suit your needs, we made it user friendly and easy to understand, whilst not neglecting the advanced traders and their need for powerful tools to implement their trading strategies.#palmex #عملات_رقمية

— Palmex (@PalmExchange) January 10, 2018

Arabian Chain 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 is also not charging fees for registration and so one can instantly start trading in many cryptocurrencies including the hugely popular Bitcoin (BTC), Ethereum(ETH) and Ripple (XRP).

However, Palmex is not the only exchange based in the Middle East there are others as well, the biggest of the lot being the Dubai based BitOasis, which was founded by Ola Doudin, a female Jordanian entrepreneur.