Amman, Sept. 21 (Petra) -- CoinMENA became the first digital currency platform to launch under the Central Bank of Jordan's regulatory sandbox (JoRegBox) for financial technology and innovation, the company said Monday.

The launch lets users in Jordan, for the first time, deposit Jordanian dinars and buy, sell and store digital currencies through the platform, under a regulatory framework supervised by the central bank, CoinMENA said in a statement.

The company said the move supports the development of Jordan's fintech sector and aligns with the Economic Modernization Vision's goal of positioning the Kingdom as an innovation-driven financial hub.

CoinMENA said its entry into the Jordanian market builds on its experience in regulated regional markets. It holds licenses from the Central Bank of Bahrain (CBB) and Dubai's Virtual Assets Regulatory Authority (VARA).

Within the sandbox, CoinMENA will work with relevant regulators, including the Jordan Securities Commission, and will let users deposit dinars through local instant payment networks, including the CliQ system, the company stated.

CoinMENA was founded in 2020 by Jordanian entrepreneurs Talal Tabbaa and Dina Sam'an, who are working with the central bank to help build a safe, innovative digital currency system in the kingdom.

In a joint statement, the founders underlined that joining the regulatory sandbox marks an important step for the company and for the development of Jordan's digital currency sector.

Tabbaa and Sam'an affirmed CoinMENA's commitment to complying with local regulatory frameworks and standards, expressing that they look forward to continuing work with the central bank to build a transparent, secure digital financial system that lets users participate in the digital finance sector.

CoinMENA said its work within the sandbox is part of its broader effort to help develop Jordan's digital finance sector and to draw on its regional regulatory experience.

//Petra// NQ