BitOasis, having recently resumed operations in Dubai, announced on Thursday its plans to establish an office in Bahrain as part of its expansion strategy across the GCC. The crypto trading platform, headquartered in Dubai, has been granted a Category 2 Crypto-Asset Services Licence by the Central Bank of Bahrain, shortly after the Virtual Assets Regulatory Authority (VARA) lifted the suspension of its MVP Operational license on 12 April 2024. This regulatory approval in Bahrain will facilitate the launch of BitOasis' new broker-dealer platform via its subsidiary, BitOasis Bahrain, located in Bahrain Fintech Bay. Initially, BitOasis Bahrain will host a small team of key employees, with plans to expand its presence in the Kingdom as it prepares to roll out its new platform, slated for launch in the latter half of 2024. This platform will cater to retail, corporate, and institutional clients in Bahrain and across the MENA region, initially focusing on its broker-dealer services. Ola Doudin, co-founder and CEO of BitOasis, highlighted that obtaining the new license and opening an office in Bahrain is a pivotal move in BitOasis’ GCC expansion strategy. She emphasized the importance of regulatory support in fostering innovation within the rapidly evolving crypto industry. The MENA region, known for its dynamic economic conditions and tech-savvy population, has demonstrated significant growth in virtual asset adoption, with Chainalysis reporting it as the fastest growing market in 2021-2022, with a transaction value of $566 billion, and maintaining robust performance in 2022-2023 with $389.8 billion despite challenging market conditions. Since its launch in 2016, BitOasis has become a leading platform for buying, selling, and holding over 60 tokens using fiat currencies like AED, SAR, and USD, serving retail and institutional investors as well as high-net-worth individuals across the GCC and MENA region. The company has handled over $6 billion in trading volume and secured more than $40 million in funding from prominent regional and global investors.