The United Arab Emirates has granted crypto exchange BitOasis a preliminary license which allows it to operate a digital asset wallet and a trading platform in the region.
According to Dubai-based BitOasis, this will make the firm Middle Easts first regulated bitcoin exchange. The preliminary license was granted by the Financial Services Regulatory Authority. This is one of the three independent authorities of UAEs international financial center, the Abu Dhabi Global Market.
Per a Bloomberg report, in the past two years, BitOasis has handled trading volumes totaling approximately $1.6 billion. This makes it one of the biggest cryptocurrency exchanges in the Middle East. Currently, some of the cryptocurrencies that are available for trading on BitOasis include BTC, ETH, XRP, BCH, LTC and XLM. Others that are available for trading include ETC, BSV, XMR, XLM and ZEC.
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