Dubai's BitOasis Expands to Bahrain Under Central Bank License
BitOasis, a virtual assets trading platform based in Dubai, has officially launched its operations in Bahrain.
BitOasis Bahrain will operate under a Crypto-Asset Services License issued by the Central Bank of Bahrain.
The platform offers trading services for retail, corporate, and institutional clients, featuring a user-friendly interface for beginners alongside advanced tools for experienced traders.
To support its expansion, BitOasis has introduced premium services aimed at high-net-worth individuals and institutional investors.
These include VIP offerings and dedicated relationship support. The platform also supports local bank transfers across the Gulf Cooperation Council (GCC), enabling easier deposits and withdrawals.
'CoinDCX's 200+ strong technology team now powers the platform's backend, unlocking faster performance, deeper liquidity, stronger security, and a significantly enhanced product suite. Our ambition is clear: to reach one million users across the region by 2026, setting the gold standard for compliance, innovation, and customer experience.'
said Ola Doudin, CEO and Co-Founder of BitOasis.
The expansion takes place amid a period of rapid growth in the MENA virtual asset market, supported by government initiatives and investment in digital infrastructure.
In the GCC, high internet penetration and a predominantly young population are contributing to a digitally driven environment.
Sumit Gupta, Co-Founder of CoinDCX, said:
'For CoinDCX, MENA is not a market to merely enter—it's a region to co-build. Since acquiring BitOasis in July 2024, we've seen tremendous progress. BitOasis secured a full VASP Licence from VARA in December 2024, and with its launch in Bahrain, we're further strengthening our regional presence. By joining forces, we're creating a platform that's local at heart but global in strength.'
BitOasis was founded in 2016 and has since processed over US$7.4 billion in trading volume.
It has raised over US$40 million in funding.
The Bahrain launch follows the company's receipt of a full Virtual Asset Service Provider License from Dubai's Virtual Assets Regulatory Authority in December 2024.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
9 hours ago
- Khaleej Times
Iran says no sanctions relief in US nuclear proposal
Iran's parliament speaker said on Sunday that the latest US proposal for a nuclear deal does not include the lifting of sanctions, state media reported as negotiations appear to have hit a roadblock. The two foes have held five rounds of Omani-mediated talks since April, seeking to replace a landmark agreement between Tehran and world powers that set restrictions on Iran's nuclear activities in return for sanctions relief, before US President Donald Trump abandoned the accord during his first term in 2018. In a video aired on Iranian state TV, parliament speaker Mohammad Bagher Ghalibaf said that "the US plan does not even mention the lifting of sanctions". He called it a sign of dishonesty, accusing the Americans of seeking to impose a "unilateral" agreement that Tehran would not accept. "The delusional US president should know better and change his approach if he is really looking for a deal," Ghalibaf said. On May 31, after the fifth round of talks, Iran said it had received "elements" of a US proposal, with officials later taking issue with "ambiguities" in the draft text. The US and its Western allies have long accused the Islamic republic of seeking to acquire nuclear weapons, a charge Iran has consistently denied, insisting that its atomic programme was solely for peaceful purposes. Key issues in the negotiations have been the removal of biting economic sanctions and uranium enrichment. Tehran says it has the right to enrich uranium under the nuclear Non-Proliferation Treaty, while the Trump administration has called any Iranian enrichment a "red line". Trump, who has revived his "maximum pressure" campaign of sanction on Iran since taking office in January, has repeatedly said it will not be allowed any uranium enrichment under a potential deal. On Tuesday, Iran's top negotiator, Foreign Minister Abbas Araghchi, said the country "will not ask anyone for permission to continue enriching uranium". According to the UN nuclear watchdog, the International Atomic Energy Agency (IAEA), Iran is the only non-nuclear-weapon state in the world that enriches uranium up to 60 percent -- still short of the 90 percent threshold needed for a nuclear warhead. Iran's supreme leader Ayatollah Ali Khamenei on Wednesday rejected the latest US proposal and said enrichment was "key" to Iran's nuclear programme. The IAEA Board of Governors is scheduled to meet in Vienna later this month and discuss Iran's nuclear activities.
Arabian Post
18 hours ago
- Arabian Post
Lifestyle Mobility Redefines UAE Auto Ambitions
Arabian Post Staff -Dubai UAE's car market is undergoing a fundamental shift as lifestyle-driven mobility rises to prominence, reshaping consumer choices from metal to experience. A surge in preference for digitally enabled, subscription-based, and autonomous transportation is aligning with the emirates' drive for sustainable, high-tech urban living. Automakers and transport authorities are adapting, marking a new era for mobility in the region. At the forefront is the uptake of connected and autonomous vehicles. A 2024 Astute Analytica report found that the UAE invested US $500 million in autonomous and connected vehicle infrastructure, and government surveys show that nearly 60 per cent of residents are open to self-driving cars once available . Dubai aims for 25 per cent of its transport network to operate autonomously by 2030, while Abu Dhabi is piloting robotaxis under a combined Dubai Roads and Transport Authority and DP World initiative . Chinese mobility pioneer WeRide has commenced fully driverless robotaxi trials in Abu Dhabi and holds significant UAE licences, further cementing the country's status as a regional testbed . ADVERTISEMENT Parallel to autonomy, digital car buying and subscription services are gaining ground. A global study by Arthur D. Little reports that UAE has the highest percentage worldwide of buyers willing to complete vehicle purchases entirely online, with 53 per cent preferring full digital transactions . It also notes more than half of car buyers intend to purchase hybrid or electric models for their next car . Major brands such as Jaguar‑Land Rover, Audi and Volvo have launched subscription models allowing flexible short‑term access to vehicles, reflecting a deeper shift from ownership to access . Luxury meets lifestyle in a market defined by adventure and affluence. The UAE's love for off‑road capable SUVs—icons like Land Rover, Toyota Land Cruiser and Mercedes G‑Class—remains strong, supported by driving culture and desert heritage . At the same time, social media has amplified the aspirational value of high‑performance and bespoke vehicles, prompting services offering vehicle customisation and luxury rentals to expand . Despite their prestige, sustainable mobility options are advancing steadily. Government plans aim for EVs to account for 10 per cent of all vehicles by 2030; Dubai Electricity and Water Authority intends to install 1,000 public charging points by 2025 . Financial incentives including free parking and toll exemptions support uptake. While less than 15 per cent of buyers currently prefer full battery‑electric vehicles , more than 50 per cent plan to choose hybrid or electric options next . Shared mobility and micro‑mobility solutions are gaining traction among urban dwellers. The UAE's ride‑hailing market grew to US $1.3 billion in 2023, and car‑sharing usage surged by 30 per cent to over 200,000 subscribers . Platforms like Careem, ekar and others expand convenient access while supporting sustainability goals . Pre‑owned and rental markets also reflect shifting lifestyle demands. The luxury car rental segment caters to business travellers and experience‑seeking residents, accounting for over half of regional luxury rentals . Certified pre‑owned programmes and digital platforms make premium vehicles accessible and promote circular economy models . ADVERTISEMENT Industry participants are racing to adapt. Six major dealers—including Al Futtaim Motors and Al Habtoor—control more than 62 per cent of the auto market by offering hybrid and electric models, digital sales funnels, and after‑sales personalisation services . Additionally, more than 80 per cent of UAE and KSA consumers now value in‑car digital services and are willing to share data for personalised experiences . Strategic foreign investment continues to flow. In 2024, DP World handled a record 1.3 million vehicles, up 53 per cent year‑on‑year. China led automotive investments region‑wide, with 27 projects worth US $8 billion, generating 20,000 jobs . The UAE attracted 145 automotive projects valued at US $22 billion, solidifying its regional industry leadership . Air mobility is emerging as a bold frontier. Authorities, including the General Civil Aviation Authority and Technology Innovation Institute, are mapping aerial corridors for air taxis and drones with a view to commercial roll‑out by 2026. Vertiports are under construction as Dubai aims to launch urban air taxi operations in early 2026 . Collaborations with global developers such as Volocopter and Joby Aviation underscore UAE's intent to lead advanced mobility innovation. Demographic and behavioural trends are shifting expectations. UAE's younger, tech‑savvy population demands multimodal transport, sustainable choices, and flexible ownership. European research shows Gen Z and millennials prefer compact, shared, and electric vehicles, and lease options tied to services—mirroring emerging patterns in the Emirates . The convergence of digital retail, in‑car connectivity, autonomous capabilities and lifestyle choices is now the defining feature of the market. That convergence gives rise to dynamic policy alignment and infrastructure development. Dubai's Autonomous Transportation Strategy ambitions to ease congestion and strengthen economic diversification, while public‑private partnerships are building the ecosystem for AI‑enabled transport . The transformation is clear: the UAE auto sector is evolving from a conventional showroom‑focused industry to an experiential mobility ecosystem. Consumers expect seamless digital transactions, autonomous options, flexible subscriptions, and elevated experiences. Governments and businesses are aligning investment and strategy to meet these expectations, fusing luxury with sustainability, and individual desire with urban resilience. As the 2030 horizon approaches, next‑generation mobility is no longer an aspiration but a reality rolling on UAE roads, in the air, and on digital platforms—heralding a new age for the Gulf's automotive narrative.
Khaleej Times
20 hours ago
- Khaleej Times
UAE drives global crypto revolution with adoption and innovation
The UAE has reinforced its position as the world's foremost crypto hub in 2025, leading a global surge in digital asset adoption driven by progressive regulations, strategic partnerships, and a tech-savvy population. A recent study by Atmos ranks the UAE as the most crypto-obsessed nation, scoring 98.4 out of 100, with a 25.3% cryptocurrency ownership rate and a phenomenal 210% adoption growth. This meteoric rise, coupled with Bitcoin's blistering rally past $110,000 and a $2.2 trillion market cap, underscores the UAE's pivotal role in reshaping global finance. As the country leverages regulatory clarity, institutional investments, and cutting-edge fintech innovations, it is not only riding the crypto wave but defining its future trajectory. The Atmos study evaluates crypto engagement through four key metrics — ownership rates, adoption growth, per capita search activity, and Bitcoin ATM availability. The UAE's dominance is remarkable despite having just one Bitcoin ATM, compared to the United States' 29,834 or Canada's 3,561. With 186,000 monthly crypto-related searches and a 210% adoption surge, the UAE outpaces Singapore (97.5 score, 24.4% ownership) and the US (85.4 score, 15.5% ownership). This reflects a cultural and economic embrace of digital assets, fuelled by a young, affluent demographic — over 60% of the UAE's 9.8 million residents are under 30 — and a government committed to a blockchain-powered economy. 'Crypto adoption is reshaping financial systems worldwide,' said Nick Cooke, CEO of Atmos, emphasising the UAE's leadership in integrating crypto into daily life. Bitcoin's recent ascent to $108,955.10, with peaks at $109,857, has ignited global optimism, with analysts like Nigel Green of deVere Group revising price targets from $150,000 to $175,000 by August 2025. Green attributes this rally to macro tailwinds, including a cooler US inflation report, easing US-China trade tensions, and a Moody's downgrade of US sovereign debt, which has driven investors toward Bitcoin as a hedge against fiat instability. 'Bitcoin is no longer just a speculative play but a strategic hedge,' Green notes, highlighting its appeal as 'digital gold' amid eroding sovereign credibility. The UAE's high ownership rate aligns with this trend, as investors seek assets immune to dilution or adoption is a cornerstone of the UAE's crypto ecosystem. Ripple's licensing by the Dubai Financial Services Authority (DFSA) to operate within the Dubai International Financial Centre (DIFC) marks a regional first, enabling regulated crypto payment services. Brad Garlinghouse, Ripple's CEO, praises the UAE's regulatory clarity, noting its $400 billion international trade market and 64% of Middle East and Africa finance leaders prioritising faster payments via blockchain. Ripple's RLUSD stablecoin, launched in 2023 with a $130 million market cap, exemplifies the demand for real-time settlement solutions. Similarly, partnership with UAE-based Tawasal integrates crypto services into a superapp, enhancing accessibility. Abu Dhabi's MGX investing $2 billion in Binance further cements the UAE's role as a crypto investment hub, with Emirates NBD's Liv platform introducing crypto services to bridge traditional and decentralised finance. The UAE's regulatory framework, led by Dubai's Virtual Assets Regulatory Authority (VARA) and Abu Dhabi Global Market (ADGM), balances innovation with oversight. VARA's licensing has attracted global players, while ADGM's regulations support blockchain development. 'The UAE's regulatory sandboxes allow fintechs to test AI-driven solutions safely,' says Nadeem Ladki of Bitpanda Technology Solutions. This contrasts with restrictive regimes like China's, positioning the UAE ahead of Singapore and Switzerland, despite their progressive policies. The UAE's $30 billion in crypto investments in 2024, coupled with a 41% increase in crypto app downloads, underscores its business-friendly environment, with free zones like DIFC and ADGM offering tax incentives and low startup costs. Decentralised finance (DeFi) is transforming the UAE's financial landscape, with global DeFi protocols holding over $150 billion in 2024. Platforms like MakerDAO and Compound enable intermediary-free financial services, aligning with the UAE's goal of financial inclusion for the 1.7 billion unbanked globally, per World Bank data. The UAE's mobile-centric DeFi solutions, supported by its advanced tech infrastructure, are poised to lead this shift. The upcoming Digital Dirham, a blockchain-based central bank digital currency (CBDC) set for fourth quarter of 2025, will enhance cross-border payments and combat financial crime, according to Khaled Mohamed Balama, Governor of the Central Bank of the UAE. With 10% of global GDP expected to be tokenised by 2027, the Digital Dirham positions the UAE at the forefront of this transformation. Artificial intelligence (AI) is amplifying the UAE's crypto prowess, with initiatives like DIFC's AI and Web3 incubator fostering innovation. AI enhances fraud detection and compliance, critical for navigating VARA's regulations. Globally, Layer 2 solutions like Optimism and Arbitrum improve blockchain scalability, making crypto viable for daily transactions. The UAE's fintech market, projected to reach $3.56 billion in 2025 and $6.43 billion by 2030, benefits from a 12.56% CAGR, driven by AI and blockchain synergy. Non-fungible tokens (NFTs) and metaverse platforms like OpenSea and Decentraland are also gaining traction, with the UAE's tech-savvy market capitalising on these new digital economies. Bitcoin's global rally, up 8.6% weekly, is mirrored by other cryptocurrencies like Ethereum (37.2%), XRP (19.2%), and Solana (18.6%), per Nick Forster. Ethereum's Pectra upgrade and Coinbase's S&P 500 inclusion signal mainstream adoption, boosting market confidence. In the UAE, 39.1% of residents are projected to use crypto by year-end, driven by user-friendly platforms and regulatory trust. The Bitcoin 2025 conference in Las Vegas, featuring speakers like US Vice-President JD Vance and MicroStrategy's Michael Saylor, will likely amplify global enthusiasm, with potential US policies like a Strategic Bitcoin Reserve further fueling growth. Despite its leadership, the UAE faces challenges. Cybersecurity risks in crypto transactions require ongoing investment, and balancing regulation with innovation remains critical. Globally, regulatory disparities — China's crackdowns versus the EU's MiCA framework — highlight the UAE's advantage in proactive governance. George Naddaf of eToro Mena notes, 'Fintech is redefining how investors make decisions,' with the UAE's education and accessibility initiatives sustaining momentum. Arif Amiri of DIFC emphasises the country's ecosystem, including an independent regulator and efficient judicial system, as a springboard for fintech growth. The UAE's crypto revolution is a blueprint for global economies. Its 210% adoption growth, 25.3% ownership rate, and $30 billion in 2024 investments reflect a nation not just adapting to digital finance but shaping it. As Nick Cooke of Atmos states, 'In the UAE, crypto drives a fully digitised economy.' With Bitcoin's resilience, institutional backing, and innovations like DeFi, CBDCs, and Web3, the UAE is poised to dominate the next phase of the crypto evolution, setting a global standard for a decentralized, inclusive financial future.
