Oasis

Future

Dubai

<ul class="wp-block-list">
 <li>BitOasis secures full VASP license from Dubai's VARA, enhancing crypto trading services across the MENA region.</li>  
 <li>CoinDCX strengthens its MENA presence with the BitOasis acquisition and Dubai regulatory compliance milestone.</li>  
 <li>BitOasis now supports over 60 cryptocurrencies, offering seamless trading with UAE dirham and Saudi riyal.</li> 
</ul>  
<p>BitOasis, a crypto trading firm located in Dubai has <a href="https://x.com/bitoasis/status/1866004469747765422" rel="noopener noreferrer nofollow">received</a> its full Virtual Asset Service Provider (VASP) license. VARA issued this license to enable the company to fully offer crypto trading services. These involve purchasing, selling and trading of cryptocurrencies. BitOasis will use the license immediately after starting operations to meet Dubai's legal requirements.&nbsp;&nbsp;</p>  
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<p>VARA granted the company pre-approval in 2022. This move made the company one of the first in the industry to operate under the new laws enacted in Dubai. BitOasis secured this license as it prepared to formalize a lucrative partnership with UAE officials. This renders it with the possibility to develop its range of services for the end consumer as well as firms.&nbsp;&nbsp;</p>  
<h2 class="wp-block-heading" id="h-coindcx-strengthen-initiative-for-regional-growth"><strong>CoinDCX Strengthen Initiative for Regional Growth</strong></h2>  
<p>In July 2024 the Indian cryptocurrency exchange CoinDCX<a href="https://cryptonewsland.com/coindcx-expands-globally-with-strategic-acquisition-of-menas-bitoasis-platform/" rel="noopener noreferrer nofollow"> bought</a> the Middle Eastern firm BitOasis. This acquisition marked CoinDCX’s entry into the Middle East and North Africa (MENA) region. The company continues to focus on serving crypto investors in countries including UAE, Saudi Arabia, Bahrain, and Jordan.&nbsp;&nbsp;</p>  
<p>Moreover, in August 2024, the UAE’s Ras Al Khaimah Digital Assets Oasis granted a license to CoinDCX’s self-custodial wallet, Okto. This aligns with the company’s broader strategy to strengthen its presence in the MENA market.&nbsp;&nbsp;</p>  
<p>Launched in 2015, BitOasis supports the trading of over 60 cryptocurrencies. Users can transact using regional currencies like the UAE dirham and Saudi riyal. The acquisition and regulatory milestones reflect the firm’s commitment to regional growth and market compliance.&nbsp;&nbsp;</p>  
<h2 class="wp-block-heading" id="h-regulatory-challenges-and-future-goals-nbsp"><strong>Regulatory Challenges and Future Goals </strong>&nbsp;</h2>  
<p>In 2023, VARA temporarily revoked BitOasis’ license after the firm failed to meet its requirements. However, the platform quickly started moving on, following strict cooperation with the authorities and meeting their requirements. The full VASP license allows BitOasis to enhance its current offerings and lays the foundation for other approvals.&nbsp;&nbsp;</p>  
<p>A BitOasis spokesperson emphasized the importance of the new license for future growth. While the license doesn’t allow new activities, it enhances current products and prepares the firm for additional regulatory approvals.&nbsp;&nbsp;</p>  
<p>Past regulatory successes in Dubai and Bahrain have <a href="https://cryptonewsland.com/bahrain-launches-bitcoin-payments-tests-with-opennode/" rel="noopener noreferrer nofollow">positioned</a> BitOasis as a trusted platform in the MENA region. The firm demonstrates its commitment to regional growth and market compliance through its acquisition and regulatory milestones&nbsp;</p>  
<p>As the cryptocurrency landscape matures, BitOasis’ licensing milestone reflects its strategic role in advancing secure and regulated crypto trading across the region.</p> 
<p>The post <a href="https://cryptonewsland.com/bitoasis-secures-full-vasp-license-in-dubai-expands-crypto-trading-services/" rel="noopener noreferrer nofollow">BitOasis Secures Full VASP License in Dubai, Expands Crypto Trading Services</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

BitOasis Secures Full VASP License in Dubai, Expands Crypto Trading Services

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