BitOasis secures MVP operational license from Dubai’s VARA

BitOasis secures MVP operational license from Dubai’s VARA

BitOasis has received the first broker-dealer minimum viable product (MVP) operational licence from Dubai’s Virtual Asset Regulatory Authority (VARA). The UAE-based crypto exchange, which received provisional approval to start the licencing process in March 2022, is the first broker-dealer to complete the MVP stage, paving the way for the firm to provide VA broker-dealer services to qualified retail and institutional investors. “BitOasis is the first virtual asset broker-dealer and trading platform to have received an MVP operational licence under VARA’s regulatory framework,” the crypto trading platform said in a statement. No firm has yet been licensed under the full market product (FMP) stage, according to VARA’s website. BitOasis plans to leverage its new license to launch strategic partnerships in Dubai and across the UAE, to provide qualified investors the opportunity to buy, sell and hold virtual assets on the platform. It also plans to launch new virtual asset products with a continued focus on driving accessibility, consumer protection and utility across the virtual asset ecosystem. “The VARA ecosystem aims to strike a balance between value creation, risk mitigation and enhanced investment opportunities with consumer protection at its core,” Henson Orser, CEO of VARA said adding that BitOasis has demonstrated a