BitOasis becomes the first broker-dealer to secure MVP operational license from Dubai’s VARA

BitOasis becomes the first broker-dealer to secure MVP operational license from Dubai’s VARA

- BitOasis is authorised by VARA to provide such broker-dealer services exclusively to qualified retail and institutional investors in and from Dubai

Dubai, UAE: BitOasis, MENA’s leading regional cryptocurrency trading platform has secured an MVP Operational License from Dubai’s Virtual Asset Regulatory Authroity, completing the final step in the MVP process, and allowing for the company to provide VA broker-dealer services to qualified retail and institutional investors from its Dubai HQ under VARA’s regulatory regime.

The MVP Operational License follows the Provisional Approval issued by VARA to BitOasis in March 2022, within a month from VARA’s formation, under which the company has been permitted to continue to operate its platform from Dubai whilst completing VARA’s rigorous licensing process. BitOasis is the first virtual asset broker-dealer and trading platform to have received an MVP Operational License under VARA’s regulatory framework.

The achievement of this milestone comes as a result of BitOasis’ longstanding commitment to proactive collaboration with regulators and sector stakeholders in the UAE and beyond. In 2021, BitOasis became the first crypto platform in the UAE to be registered with the country’s Financial Intelligence Unit (Go-AML platform), following an extensive risk assessment completed with the UAE’s Executive Office of Anti-Money Laundering and Combatting