Palmex to Get Regulatory Sandbox License in Bahrain

Palmex has reportedly become the first crypto exchange in the Middle East and North Africa (MENA) region to receive a regulatory sandbox license
14 June 2018   1041

The Central Bank of Bahrain (CBB) approved the creation of a regulatory sandbox for the Dubai crypto exchange Palmex, reports Bitcoin. com.

Created by Arabianchain Technology, Palmex became the first in the Middle East and North Africa (MENA), which received such a license.

The Exchange trades in several currency pairs, including traditional BTC, ETH, LTC and XRP, as well as Dubaicoin (DBIX). The latter represents the first decentralized cryptocurrency of the MENA region.

The Arabianchain Technology Venture Company is also based in Dubai. The Arabianchain it is the first public blockchain in the MENA region.

The license comes into force on July 15 within the strict application process, during which the security and protection systems of the exchange's customers are checked.

[Company] will start with a limited number of select users to test and optimize the process and then expand to the rest. A significant rise in awareness and adoption [of cryptocurrency] could be expected, driving a huge spike in the number of trades and token-based fundraising across the region while maintaining the safety of the financial system.
 

Mohammed Alsehli

Founder and CEO, Arabianchain

The regulatory sandbox creates a virtual safe space for the development and launch of products, services, platforms and business models in a controlled environment. Its use gives the regulatory authorities time to adapt legislation.

Raven Protocol to be the First IDO at Binance DEX

Team cannot say exactly how IEO will pass, since similar campaigns hadn't been concluded at Binance DEX before, but they are going to sell $500k worth tokens
14 June 2019   332

The Raven Protocol cryptocurrency project announced about the planned initial exchange offering (IEO), which will be based on the infrastructure of the Binance DEX exchange - in this case the campaign will be called IDO or Initial Dex Offering.

Raven Protocol confirmed the right to list its token on Binance DEX paired with BNB on June 17 at 9:00 UTC. At the same time, the IDO of RAVEN tokens will start. The project draws attention to the fact that neither Binance, nor Binance Chain, nor Binance DEX stand behind this initiative.

At the same time, Raven Protocol notes that it cannot say how exactly IEO will pass, since with Binance DEX, similar campaigns have not been conducted before.

Potential participants need to pass a preliminary identification by sending to the address of founders@ravenprotocol.com their address in the Binance Chain, an identity document, a selfie and proof of residence.

In total, Raven Protocol expects to raise $ 500,000 by selling 3% of its own token emission (300,000,000 RAVEN). Accommodation will be on a first come, first served basis. The limit on the amount of investment for one user is declared at the level of 100 BNB.