amana Expands to 450+ Cryptocurrencies, Largest Offering Among MENA Brokers

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.

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.