The FX/CFD
broker amana has expanded its cryptocurrency selection to more than 450 digital
assets, according to a company announcement today (Monday). The firm stated
this represents the largest cryptocurrency portfolio among brokers operating in
the Middle East and North Africa region.

amana Expands
Cryptocurrency Offerings to Over 450 Assets

The
expansion adds over 300 new cryptocurrencies to amana’s existing platform,
which also provides access to FX, indices, physical
stocks and automated investment plans. The company aims to offer users a
consolidated trading experience that combines both conventional markets and
digital assets.

“With
over 450 coins and a seamless all-in-one platform, we’re making it easier for
our customers to trade digital assets alongside stocks, forex, and commodities
in one place,” Muhammad Rasoul, amana’s CEO, said in the
announcement. “Trading crypto has never been this effortless.”

The
expanded selection includes major cryptocurrencies such as Bitcoin and
Ethereum, alongside specialized tokens including gaming-related coins like
Decentraland, meme cryptocurrencies such as the Trump Coin, and various
blockchain protocol tokens.

According
to amana, the strategy addresses a market segment where platforms typically
focus exclusively on either traditional financial instruments or
cryptocurrencies.

The broker run by Amana Capital
maintains offices in Dubai, London, Limassol, and Beirut, serving clients
throughout the MENA region with both leveraged and unleveraged trading options.
The company reports it has added more than 320,000 users since launching its
application in September 2022.

Brokers Increase Crypto
Offerings

amana’s
recent addition of over 300 cryptocurrencies at once is a relatively uncommon
move in the brokerage industry, but several other companies have similarly
expanded their cryptocurrency offerings over the past year.

In
November, Germany-based online broker flatexDEGIRO
announced plans to include cryptocurrencies in its product portfolio to
compete with Revolut in the European market. Around the same time, Robinhood
expanded its crypto assets offering, adding several major cryptocurrencies
and increasing its total to nearly 20.

XTB is
planning to take an even more ambitious step by
introducing spot cryptocurrency trading alongside its existing CFD
offerings, according to exclusive information obtained by Finance Magnates.

Executive Reshuffle

Middle Eastern brokerage firm
amana last year appointed
Jack Saidy as Director of Operations for Lebanon to strengthen its regional
presence. Saidy brings more than ten years of experience in the financial
markets sector to his position. Previously, he served as Director at Advanced
Markets, focusing on sales team training and building client relationships.

The company stated that Saidy’s
extensive knowledge of Lebanese and Middle East and North Africa (MENA) markets
will help accelerate amana’s growth in the region. amana provides trading
opportunities across over 5,500 assets, including physical and leveraged shares
from the US and MENA regions, as well as commodities and currencies.

Meanwhile, amana
has also appointed Haris Loucaides as its new Chief Financial Officer
(CFO). Loucaides succeeds Mazen Yazbeck, who unexpectedly passed away after
serving as CFO for more than 11 years. Yazbeck had also overseen the company’s
human resources department.

He joined amana in 2012 after
spending over ten years working with Gulf Cooperation Council (GCC) investment
banks and auditing firms.