BitOasis, a digital asset trading exchange and platform in Dubai, announced that it has been granted a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM).

The firm said that it is currently working towards the migration of its operations towards launch.

The FSP authorises BitOasis to operate a regulated Multilateral Trading Facility (MTF) and custody platform for virtual assets in ADGM that will serve retail, accredited investors, trading firms and institutions.

The platform is intended to allow buying and selling of virtual assets with local currencies.

BitOasis will launch after securing additional launch approvals from the FSRA.

The platform which began operating in 2015 was granted the first In Principal Approval (IPA) in April 2019.

Featured image: BitOasis