South Korean cryptocurrency exchange Bithumb signed a Memorandum of understanding with the company Nvelop from the United Arab Emirates (UAE) to launch a licensed trading platforms for digital assets with the support of Fiat, reported CoinDesk.

As the newspaper notes, the new partnership should help Bithumb in the future to enter the markets of Saudi Arabia and Bahrain.

Note that the Nvelop based investment Fund E11 and venture capital firm Trill Ventures Group for business development in the blockchain industry.

We will remind, earlier Bithumb launched the global OTC platform Ortus with its headquarters in Hong Kong. It is assumed that institutional clients will have access to the custodian’s decision with insurance funds.

At the same time, the South Korean giant intends to enter the stock exchange in the US through a reverse takeover of the company Blockchain Industries. It is expected that the transaction will be closed till March 1.

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