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, 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 an increased interest from institutional and family office investors in the region.
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 long-term and the state of the crypto market in the region.
“The growth trajectory for BitOasis includes expansion of our team in different 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 crypto ecosystem in the region is set to grow with more crypto-friendly regulation and BitOasis aims to continue working more proactively with the policymakers to drive this mainstream adoption.
Earlier in the year, Blex Financial Limited, an ADGM based entity (which is a sister entity to BitOasis) received its Financial Services Permission (FSP) to operate a regulated Multilateral Trading Facility (MTF) and Custody platform for digital assets in Abu Dhabi Global Market (ADGM). The ADGM registered entity will, upon launch, serve retail, professional investors, trading firms, and institutions in the region. The platform is intended to allow buying and selling of virtual assets with local fiat currencies. The platform will launch after securing additional launch approvals from the Financial Services Regulatory Authority (FSRA). BitOasis parent company will be seeking additional licenses across the region to further expand its offering and footprint.