SINGAPORE, Dec. 12, 2024 — HTX, a prominent global cryptocurrency exchange, participated as a sponsor at Bitcoin MENA 2024 in Abu Dhabi, which took place December 9-10 (UTC). This inaugural major cryptocurrency event in the Middle East and North Africa (MENA) region drew significant figures, including Eric Trump, Binance’s Changpeng Zhao (CZ), and Marwan Alzarouni, CEO of Dubai Blockchain Center. The summit served as a platform for exploring the future of cryptocurrencies and key industry opportunities.

Justin Sun, HTX’s Global Advisor and TRON Founder, and Charmaine Lim, HTX’s Head of VIP Client Services, attended and discussed the cryptocurrency industry’s current state and future trends. Their presence highlights HTX’s focus on the MENA cryptocurrency market and its global expansion strategy. The exchange aims to accelerate broader cryptocurrency adoption through collaborations with global crypto entrepreneurs and communities.

During the “The Great Debate: Bitcoin vs. Crypto” session, Justin Sun shared insights on the Bitcoin-cryptocurrency relationship. He described Bitcoin’s core value proposition as a store of value, emphasizing the importance of security and decentralization for investor confidence. He suggested maintaining Bitcoin’s current status to ensure stability, even if it limits innovation. He posited that other blockchains and cryptocurrencies provide avenues for innovation and cutting-edge consumer technologies.

Sun attributed Bitcoin surpassing $100,000 to advancements in cryptocurrency technology. He explained that while Tether’s initial Bitcoin Omni Layer stablecoins suffered from slow transaction speeds, USDT on TRON offered instant transactions, meeting user demands. He also noted that technological advancements and the increasing popularity of stablecoins have driven capital into Bitcoin, strengthening its role as a store of value.

“Every cryptocurrency has its own significance. Ethereum and TRON, for instance, derive value from daily usage by millions. Meme coins, while less immediately understandable in value, have created a substantial market, from DOGE to SHIB to PEPE. I believe cryptocurrencies are akin to art in a museum; not every piece is immediately comprehensible. The key is continuous learning as cryptocurrencies evolve,” Sun commented.

Charmaine Lim, during a roundtable on “Improving Access to Bitcoin in the UAE,” noted the UAE’s progress since 2015 in promoting Bitcoin and other cryptocurrencies. However, challenges remain, including cautious bank approaches to cryptocurrency transactions, insufficient public education, and regulatory uncertainty, which hinder sector growth.

Lim mentioned HTX’s provisional Virtual Asset Service Provider (VASP) license from Dubai’s VARA and its application for a full license. The platform is actively working with local banks to create a smoother fiat-to-cryptocurrency transaction process. HTX will also offer global users educational resources on crypto trading, storage, and security through HTX Live and online workshops, expanding language support to include Arabic.

Lim suggested the UAE government create a supportive environment for crypto businesses by establishing clear regulations, streamlining licensing, offering tax incentives to blockchain companies, and expanding its regulatory sandbox to accelerate cryptocurrency adoption.

HTX’s presence at events like Blockchain Life, Cardano Summit, and Bitcoin MENA throughout 2024 demonstrates its strong interest in the MENA region’s cryptocurrency potential. Through innovative products and partnerships, HTX aims to accelerate cryptocurrency adoption and regulatory compliance.

With the global crypto market expanding, HTX plans to broaden its global presence while fostering innovation and crypto technology applications to build a more accessible Web 3.0 ecosystem.

About HTX
Founded in 2013, HTX has grown from a virtual asset exchange into a comprehensive blockchain ecosystem encompassing digital asset trading, financial derivatives, research, investments, incubation, and other ventures.

As a leading Web3 gateway, we offer global capabilities, providing users with secure and reliable services. Our growth strategy – “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance” – underscores our commitment to quality services and value for global virtual asset enthusiasts.

Press Contact
Ruder Finn Asia

Disclaimer: This content is provided by HTX. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

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