UAE crypto exchange BitOasis receives Multi Trading Facility License from ADGM

BitOasis is the first Crypto currency exchange in ADGM to have received the full virtual asset trading license.

In a recent interview on Ashraq Television, BitOasis crypto exchange's  Founder and Chief Executive Officer Ola Doudin, a guest on an evening show discussing CoinBase historical listing on Nasdaq, announced that BitOasis, UAE based crypto exchange had received the Multi Trading Facility License from Abu Dhabi Global Market, the Financial regulatory authority in Abu Dhabi. This announcement was also reiterated in a tweet 

Doudin stated, “Our Biggest achievement thus far in 2021 is that we have received the full Multi Trading Facility License from ADGM. This includes  the trading platform as well as virtual asset custodial license and will allow us to serve both institutional and retail customers who want to invest in cryptocurrency market.”

In May 2019 BitOasis had received preliminary approval from ADGM. Prior to that it was one of four startups admitted to Abu Dhabi Cohort in Hub71.

She added, “We want to expand further across the region, and are working to build strategic partnerships with Banks in the Kingdom of Saudi Arabia, Kuwait and others and this is extremely important.”

Doudin believes that with the listing of CoinBase on NASDAQ, this is proof that there is now more trust in cryptocurrencies. She explains, “Today Coinbase has grown to become a 100 billion dollar company in just 12 years. Institutional investors, global payment providers, and private banks are embracing crypto, so it is no longer a fad it is a reality.”

She adds, “Crypto will change the financial services and banking sector in GCC.” She calls on investors in the region to support the crypto sector and the companies serving this sector including crypto trading platforms such as Bitoasis, in line with the huge investments being made globally in this market.”

She emphasizes, “I hope that the historic moment today will be an eye opener for investors here.”