UAE Crypto Platform BitOasis has Traded $1.5 Billion in 2021

UAE Crypto Platform BitOasis has Traded $1.5 Billion in 2021

BitOasis, the first and largest cryptocurrency platform in the Middle East and North Africa (MENA) region, delivered a strong half-yearly result for 2021, with trading volumes to date exceeding $3 billion, and more than half of that in H1 2021. 

A pioneer in the region since its launch in 2015, BitOasis has seen a doubling of its user base in the last six months compared to the same period last year and increased interest from institutional and family office investors in the region.

Earlier in the year BitOasis’ entity registered in Abu Dhabi Global Market (ADGM) became the first platform authorized to operate a regulated Multilateral Trading Facility (MTF) and Custody platform for digital assets in ADGM and the UAE, to serve retail, accredited investors, trading firms and institutions. The platform is intended to allow buying and selling of digital assets with local currencies and will launch after securing additional launch approvals from the FSRA.  BitOasis’ parent company will be seeking additional licenses across the region to further expand its footprint and offering.

Ola Doudin, CEO and co-founder of BitOasis said: “The first half of 2021 has been one of many milestones, both in terms of performance for BitOasis – processing over US$3 billion, and a doubling of users. This sends a strong message of confidence in the region’s crypto market for the long-term.

“The growth trajectory for BitOasis includes expansion of our team in a number of countries across the region, acquiring additional regulatory licenses, and ensuring we remain industry leaders in serving the market by rolling out more tokens and products for our users.”

The region’s crypto ecosystem continues to grow as more crypto-friendly regulation is developed, and BitOasis continues its proactive role in working with policymakers to drive mainstream adoption.

If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.