BitOasis is based in Dubai and claims to be one of the largest cryptocurrency exchanges in the MENA region for Bitcoin and more than 60 cryptocurrencies.
The BitOasis website targets customers in the MENA region and allows traders from 87 different countries to make deposits using fiat currencies. The countries include the United Arab Emirates (UAE), Dubai, Saudi Arabia, Bahrain, Kuwait, Oman, Jordan, Egypt, and Morocco.
BitOasis customers can trade in local currencies such as AED and SAR.
The cryptocurrency platform offers more than 60 crypto assets and 200 crypto-fiat trading pairs.
It also offers a rewarding referral program that allows traders to invite friends and earn up to 500 SAR/AED.
BitOasis‘ trading volume has exceeded USD 3 billion. In the first half of 2021, the company doubled its user base within six months of its launch in 2015.
BitOasis is currently in the process of obtaining an MVP license from VARA.
In 2021, BLEX Financial Limited, BitOasis‘ ADGM-registered entity, received approvals from financial regulators in the United Arab Emirates. It received a Financial Services Permit (FSP) from the Financial Services Regulatory Authority (FSRA) for the Abu Dhabi Global Market.
Due to the pending license around the company, we place BitOasis in our “Orange Compliance” list and add it to our Watchlist until it is licensed.