BitOasis has become the first Middle Eastern crypto exchange to be licensed by VARA for broker-dealer MVP on Monday.
- BitOasis is the first Middle Eastern crypto exchange licensed by Dubai’s VARA for broker-dealer MVP.
- The firm is the only broker-dealer to complete VARA’s MVP stage, with no FMP licenses yet.
- BitOasis can now provide broker-dealer services to eligible retail and institutional investors under VARA’s regulation.
On Monday, BitOasis announced that it had become the first crypto exchange in the Middle East to receive a broker-dealer minimum viable product operational license from Dubai’s crypto regulator. The license was granted by Dubai’s Virtual Asset Regulatory Authority (VARA), which was established in March 2022 to oversee the burgeoning virtual asset sector in the region.
As the United Arab Emirates strives to establish itself as a leading destination for the crypto industry, the license represents a significant milestone for BitOasis and the broader virtual asset ecosystem in the region.