UAE based BitOasis, digital asset (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 US$3 billion, and more than half of that in H1 2021. BitOasis, launched in 2015, has been a pioneer in the cryptocurrency trading scene in the region. According to the press release Bitoasis has doubled its user base in the first half of 2021 in comparison with the same period in 2020.
Registered in ADGM under the name BLFX Financial limited
The press release adds that most interest has come 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. BitOasis’s ADGM registered entity is called BLEX Financial limited.
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.”