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.
We have been pioneers in the region since we began operating in 2015, and are delighted to have achieved yet another milestone in the regulatory evolution of virtual asset market structure in the region. ADGM has been instrumental in our journey, having granted the first In Principal Approval (IPA) for BitOasis in April 2019, and we look forward to launching under our regulatory licenses in due course subject to further regulatory approvals from the FSRA.
Established in 2015, BitOasis is the largest online virtual (also referred to as ‘crypto’) asset platform in the MENA region. The firm currently operates from Dubai and is in 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 virtual assets against fiat currency and virtual asset pairs. All services offered, marketed or promoted by BitOasis in Dubai to its users are through its website: www.bitoasis.net. 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 offering its clients access to a secure, regulatory compliant and institutional-grade platform.