Dubai: BitOasis, a virtual asst trading and storage platform, has received preliminary approval from Abu Dhabi Global Market’s regulator ahead of its launch there.
The platform, which will handle cryptocurrencies such as Bitcoin Ethereum, is intended to allow buying and selling of virtual assets with local currencies. The platform will launch after securing additional launch approvals from FSRA (Financial Services Regulatory Authority).
“We’re delighted to have achieved yet another milestone in the regulatory evolution of virtual asset market structure in the region,” said Ola Doudin, CEO and co-founder of BitOasis. “ADGM has been instrumental in our journey, having granted the first In Principal Approval (IPA) for BitOasis in April 2019. We look forward to launching under our regulatory licenses in due course subject to further regulatory approvals from the FSRA.”
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BitOasis secures regulatory approvals in ADGM
Press release
We are delighted to announce that our BitOasis ADGM registered entity has been granted a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM) in the United Arab Emirates (UAE) and we’re currently working towards the migration of our operations towards launch.
As the first and largest virtual asset platform in the Middle East and North Africa (MENA) region, we are now authorised to operate a regulated Multilateral Trading Facility (MTF) and Custody platform for Virtual Assets in Abu Dhabi Global Market (ADGM) in the United Arab Emirates (UAE) that will serve retail, accredited investors, trading firms and institutions. The platform is intended to allow buying and selling of Virtual Assets with local currencies. The platform will launch after securing additional launch approvals from the FSRA.
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