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BitOasis launches Crypto rrading services in Bahrain
By: thepaypers|2025/05/16 17:00:17
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The company will operate under a Crypto-Asset Services Licence issued by the Central Bank of Bahrain, allowing it to offer cryptocurrency trading to retail, corporate, and institutional clients in the country. The move follows BitOasis’s receipt of a full Virtual Asset Service Provider (VASP) licence from Dubai’s Virtual Assets Regulatory Authority (VARA) in December 2024. BitOasis is now licensed in both the UAE and Bahrain, expanding its regulatory footprint across the Gulf Cooperation Council (GCC). Crypto growth in the GCC encourages market entry The company's entry into Bahrain coincides with continued growth in the MENA virtual asset market. Governments in the region, including the UAE, have implemented various initiatives to promote digital infrastructure, including blockchain. These developments, combined with a predominantly young, tech-literate population and internet penetration above 99% in the UAE, have contributed to increased interest in cryptocurrency. According to IMARC Consulting, the value of the GCC crypto market reached USD 744.3 million in 2024. It is projected to rise to USD 3.5 billion by 2033, with an annual growth rate of 16.75%. Additionally, about 38% of cryptocurrency users in the region reportedly have annual incomes above USD 15,000. BitOasis Bahrain will support local bank transfers to facilitate deposits and withdrawals. The platform also includes trading features aimed at both beginners and advanced users. As part of its regional strategy, the company has introduced premium services for institutional clients and high-net-worth individuals, which include personalised support and exclusive access to certain trading tools. Officials from BitOasis noted that the company aims to reach one million users across the region by 2026. Representatives also acknowledged the role of its parent company, CoinDCX, in supporting the platform’s backend systems, citing improvements in speed, liquidity, and security.
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