Dubai, UAE December 09, 2024: BitOasis, the Middle East and North Africa’s (MENA) leading regional virtual assets broker-dealer trading platform, announced receiving a full Virtual Asset Service Provider (VASP) License from Dubai’s Virtual Assets Regulatory Authority (VARA), following the company satisfying all relevant regulatory conditions and requirements.
BitOasis said it will seamlessly transition to operating under its new license with immediate effect.
Securing the full VASP License marks the final step in VARA’s licensing process for the platform’s current activities, and represents a major milestone in BitOasis’ journey, opening a new chapter in the company’s work with VARA, the world’s first dedicated virtual assets regulator.
As a homegrown industry pioneer, BitOasis was among the first platforms to secure a provisional operating permit from VARA shortly after the regulator’s launch in 2022.
Ola Doudin, Co-Founder and CEO of BitOasis, said: “This is a very significant moment for BitOasis and the broader virtual assets community in the region. Securing the full VASP License is not only a testament to our team’s dedication to regulatory compliance but also reinforces our resolve to lead the industry with integrity and accountability. We are grateful to VARA for their guidance and support throughout this process. We are excited to continue our growth and further enhance our products to meet the rapidly evolving needs of our clients.”
Securing the new license will enable BitOasis to further enhance its current services provided to retail, institutional and qualified investors, and to work to secure additional approvals from VARA and other regulators to further expand its product portfolio.
Looking ahead, BitOasis will remain unwavering in its commitment to leading the virtual asset revolution in the region by example as one of the few homegrown Virtual Asset Service Providers of Dubai. Working closely with regulators, public sector stakeholders, and its community, BitOasis will remain at the forefront of building trust in virtual assets and the digital economy, ensuring that it continues to serve as a trusted partner for individuals and businesses navigating the rapidly growing and dynamically evolving virtual assets landscape.
About BitOasis
BitOasis, a CoinDCX group company, is the leading regional cryptocurrency trading platform in the Middle East and North Africa. Headquartered in Dubai and established in 2016, BitOasis is a pioneer of the region’s virtual assets ecosystem, serving as the go-to platform for first-time cryptocurrency buyers and professional traders alike. The platform provides a secure and regulated opportunity for investors across 15 countries to buy, hold, and sell 70+ virtual assets. Since its launch, BitOasis has processed more than $6.6 billion in trading volume. BitOasis is licensed under Dubai’s Virtual Assets Regulatory Authority and the Central Bank of Bahrain.
Important Notice: BitOasis does not provide investment or legal advice. Cryptocurrency trading involves substantial risk of loss, extreme volatility, and potential total loss of value. Virtual assets do not offer financial protection, and investors may lose all money invested. It is recommended that you seek independent professional advice to fully understand these risks.
