Middle East digital asset platform BitOasis reports strong H1 2021 results

200% increase in users as crypto gains mainstream adoption

  

BitOasis, the first and largest 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. 

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 authorised 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.

About BitOasis:

Established in 2015, BitOasis is the largest online digital (also referred to as ‘crypto’) asset platform in the MENA region. The firm currently operates from Dubai and is in the process of setting up and launching its operations from ADGM in Abu Dhabi under its ADGM registered entity BLEX Financial Limited.

BitOasis platform offers the most liquid platform in the Middle East, allowing traders and investors to easily exchange and trade Bitcoin, Ethereum and other digital assets against fiat currency and digital asset pairs.  All services offered, marketed or promoted by BitOasis in Dubai to its users are through its website:  www.bitoasis.net or BitOasis App, available on Appstore or Playstore. BitOasis will, in due course, provide more information about migrating to the new ADGM entity.

BitOasis’s ADGM registered entity, BLEX Financial Limited, on receiving the necessary approvals from the FSRA in ADGM, will be launching its regulated MTF in ADGM to offer its clients access to a secure, regulatory compliant, and institutional-grade platform.

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