ECONOMY

Dubai-based crypto exchange opens for new GCC, UAE registrations for one day

Exchanges such a BitOasis have received a lot of applications for verification as interest in cryptocurrency increased in the GCC region in the past year. (Shutterstock)

BitOasis, a digital asset wallet and exchange platform for cryptocurrency, has enabled submissions of new account verifications for one day only on Tuesday.

Exchanges such a BitOasis have received a lot of applications for verification as interest in cryptocurrency increased in the GCC region in the past year.

In a tweet on their official account, BitOasis responded to an article by Gulf News which accused them of disabling customers’ withdrawals and deposits from a few local banks.

The exchange platform said that this happens from the bank’s side and only applies to Noor Bank and Emirates NBD who halt transfers for customers dealing with block-chain based trading platforms, like BitOasis and others.

“We welcome this growth but we also acknowledge that this might create bottlenecks which our new clients may temporarily experience from time to time,” BitOasis said on their Twitter account. “We would like to assure our longstanding clients and partners that the team at BitOasis is working tirelessly at resolving these issues.”

The enabling of new verifications coincides with BitOasis’s introduction of Ripple as a new cryptocurrency on their platform.

New users have until midnight to submit their documents for verification. To Purchase bitcoin and Ethereum, new customers must submit their ID, bank information and proof of address before transaction for more than 400AED can be made.

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Last Update: Tuesday, 30 January 2018 KSA 13:21 - GMT 10:21
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