‎21Shares Company Lists Bitcoin-Traded Product on Nasdaq ‎Dubai

Crypto investment products company 21.co said today, Wednesday, that its subsidiary 21Shares AG has listed a bitcoin-traded product on Nasdaq Dubai, becoming the first bitcoin-backed product in the Middle East.

According to “Reuters”, the company stated that 21shares now has 46 products listed in seven countries after the listing in Dubai.

Switzerland-based 21.co. raised last month $25 million in an investment round that raised the value of the company to $2 billion.

The cryptocurrency market incurred losses, forcing some of its largest companies to lay off thousands of employees to cut costs.

But Sherif El-Haddad, who was appointed as 21shares president for the Middle East in August, was optimistic and said cryptocurrencies “are rapidly becoming the assets of the future for investors and wealth managers around the world.”

Digital Transactions Research Chain Analytics said in a report last week that the Middle East and North Africa region is the fastest growing region in the world in the field of digital currencies, as the volume of incoming digital currencies jumped 48 percent since the beginning of the year until June.

Hani Rashwan, CEO and co-founder of 21Shares, said in the statement that the company “will continue to support the ambitions of the Middle East region to become a global center for digital currencies.”