{"id":17653,"date":"2021-12-15T13:28:43","date_gmt":"2021-12-15T13:28:43","guid":{"rendered":"https:\/\/web3unplugged.io\/blog\/?p=17653"},"modified":"2021-12-15T13:28:50","modified_gmt":"2021-12-15T13:28:50","slug":"coinmena-integrates-chainlink-to-bring-enhanced-transparency-to-its-digital-assets-exchange","status":"publish","type":"post","link":"https:\/\/web3unplugged.io\/blog\/coinmena-integrates-chainlink-to-bring-enhanced-transparency-to-its-digital-assets-exchange\/","title":{"rendered":"CoinMENA Integrates Chainlink To Bring Enhanced Transparency To Its Digital Assets Exchange"},"content":{"rendered":"\n

CoinMENA<\/a>, the digital assets exchange designed specifically for the\u00a0Middle East\u00a0and\u00a0North Africa\u00a0(MENA) region, is pleased to announce our live integration of the industry leading\u00a0Chainlink Price Feeds<\/a>\u2014decentralized data feeds that provide accurate, tamperproof, and transparent asset prices on various cryptocurrencies, FX rates, and traditional assets. CoinMENA is referencing Chainlink Price Feeds during all fiat-to-crypto transactions on the exchange, ensuring users are getting fair-market exchange rates.<\/p>\n\n\n\n

While most traditional exchanges rely on opaque internal pricing mechanisms, CoinMENA\u2019s integration of Chainlink Price Feeds brings unprecedented transparency to prices that users receive when using our fiat-to-crypto on\/off ramps. Importantly, Chainlink Price Feeds allow us to provide auditability to the process without sacrificing on data quality or security, as each data feed has wide market coverage across all relevant exchanges and underlying infrastructure that\u2019s been time-tested and proven resilient to single points of failure and black swan events. It\u2019s why Chainlink Price Feeds are the most widely used decentralized data solution and secure tens of billions of dollars across decentralized finance (DeFi) and traditional finance (TradeFi).<\/p>\n\n\n\n

Founded in 2019, CoinMENA is a digital asset exchange licensed and regulated by the Central Bank of\u00a0Bahrain. CoinMENA specializes in providing secure crypto-focused investment services to users in the\u00a0Middle East\u00a0and\u00a0North Africa\u00a0(MENA). With CoinMENA, individuals can securely buy, store, and receive digital assets using their local currency. Not only does CoinMENA provide users a seamless interface and user experience, but it also offers competitive fees and ample liquidity, enabling users to easily invest in non-traditional assets.<\/p>\n\n\n\n

By integrating Chainlink\u2019s oracle infrastructure, our users now have access to tamper-proof, highly available, and transparent exchange rates on platform services\u2014a superior solution, even when compared to more traditional centralized data solutions. With Chainlink Price Feeds, anyone can monitor the exchange rates being offered are fair, as well as verify CoinMENA is not tampering with the process<\/p>\n\n\n\n

Some of the reasons we selected Chainlink Price Feeds include:<\/p>\n\n\n\n