A top crypto exchange in Switzerland, Bitnukamong, widely known as Bitnuk, is expanding its services outside Europe by announcing its presence in Asia and Africa. The regulated digital asset trading platform is known for its robust security architecture and user-friendly interface.
Switzerland’s Leading Crypto Exchange
As the first licensed crypto asset service provider under ARIF Genf’s supervision, Bitnuk has established itself as a pioneer in the country’s digital asset space. The Swiss Financial Market Supervisory Authority (FINMA) has officially approved ARIF, a self-regulatory organization whose mission is to guarantee that its members adhere to strict anti-money laundering (AML) laws.
Over the years, Bitnuk has proven to be a reliable platform for users worldwide looking for a safe and compliant trading environment. It serves thousands of customers globally, strongly emphasizing privacy and usability.
Bitnuk has created an intuitive user interface that appeals to new and seasoned cryptocurrency investors. The platform’s emphasis on security and compliance has enabled it to gain the trust of a diverse range of users.
A Crypto Exchange with Reliable Security And Ease Of Use
Vilhelm German, Bitnuk’s Chief Technology Officer (CTO), remarked that the platform integrates cutting-edge verification technologies like GlobalPass to guarantee safe user authentication and payments.
Customers from other countries find this feature especially appealing because it streamlines the onboarding procedure while upholding a high-security standard. Bitnuk has become a preferred platform for investors seeking a quick and safe method to trade cryptocurrencies through its expedited verification process.
Apart from its robust security protocols, Bitnuk also has features tailored to the needs of qualified investors and high-volume traders. With its over-the-counter (OTC) trading service, these users can transact with more discretion and privacy.
Bitnuk distinguishes itself as a platform that caters to the varied demands of its customer base by providing a tailored experience for this market segment. Furthermore, Bitnuk’s services are open to users outside Europe.
The firm is also expanding into Asia and Africa, two regions where the use of digital assets is multiplying. German stated that these markets’ enormous growth potential is a massive attraction to the company, and that’s why it’s giving them a lot of attention.
Focus on Asia and Africa
Two regions that have become crucial to the global expansion of digital assets are Asia and Africa, where the cryptocurrency market has experienced significant growth. Leading Asian nations that are developing new technologies and regulatory frameworks to encourage the adoption of cryptocurrencies include South Korea, Japan, and Singapore.
According to Dr. Jonathan Curci, a former adjunct professor at the Geneva Business School of International Business Law, Asia will significantly impact the global cryptocurrency market. He pointed out that countries in the region are pushing blockchain technology forward by enabling the quick embrace of cryptocurrencies among their citizens.
This strategy has encouraged the growth of a more robust financial system, which is advantageous to the entire cryptocurrency ecosystem. Similarly, Africa has shown great potential for cryptocurrency adoption, particularly in countries like Nigeria and South Africa.
These countries utilize cryptocurrencies to address pressing issues like inflation and financial inclusion. Since they provide more effective and affordable alternatives to conventional banking systems, remittance services, and stablecoins have gained popularity throughout Africa.
Nigeria leads the world in adopting cryptocurrencies, indicating that the African market is becoming more critical for using digital assets. According to Chainalysis’ 2024 Crypto Adoption Index, Africa and Asia account for six of the ten nations with the highest cryptocurrency adoption rates.
These regions have enormous room for expansion, and businesses like Bitnuk are setting themselves up to take the lead in this trend.
Crypto Exchange Crackdown in Dubai
While the cryptocurrency market is expanding globally, some regulators are working harder to ensure businesses adhere to the relevant rules and laws. For instance, Dubai’s Virtual Assets Regulatory Authority (VARA) has begun a crackdown on unlicensed crypto exchanges and those who break marketing regulations.
Recently, seven companies received cease-and-desist orders and fines from VARA for operating without the necessary licenses and violating marketing regulations. VARA clarified that only licensed firms can provide virtual asset services in Dubai.
Hence, the regulator has warned the public to avoid engaging with unlicensed entities to prevent financial and reputational risks. In addition to the legal consequences, interacting with unregulated companies can undermine the trust and security of the overall cryptocurrency ecosystem.
Furthermore, VARA has mandated that all seven exchanges cease all crypto-related operations and promotional campaigns. Thus, the regulator fined these crypto exchanges between 50,000 and 100,000 United Arab Emirates dirhams (approximately $13,600 to $27,200), demonstrating VARA’s commitment to enforcing compliance.
