Bitoasis secures full vara license: Dubai-based crypto exchange BitOasis recently completed its licensing journey by securing a full VASP license from Dubai’s VARA. This regulatory milestone allows BitOasis to expand its services, offering buying, selling, and trading of digital assets, cementing its place in the evolving crypto landscape.
Overcoming regulatory challenges: In July 2023, BitOasis faced a temporary suspension of its MVP license due to non-compliance with VARA’s regulatory conditions. Demonstrating resilience, the exchange worked diligently to regain VARA’s trust, showcasing its commitment to regulatory standards and achieving the necessary compliance to secure the full VASP license.
Acquisition by CoinDCX supports growth: Following its full licensing, BitOasis was acquired by CoinDCX, an Indian crypto giant. This acquisition is set to boost growth for both exchanges in the MENA region, leveraging CoinDCX’s vast user base of over 15 million and a quarterly trading volume of 840 million USD.