BitOasis Launches No-Cost Local Funding Option for UAE-Based Customers – News
UAE’s Largest Crypto Asset Exchange Becomes First In The Country To Introduce Local Funding Option With No-Fee Payments And Withdrawals For UAE Bank Account Holders
In a revolutionary move that is expected to accelerate the pace of the evolution of the UAE’s crypto space, BitOasis announces that it has become the country’s first crypto exchange to implement a local bank funding option for users. This will allow all UAE-based BitOasis users to locally transfer funds from their UAE bank account to their BitOasis account at no cost. They will also be able to make withdrawals free of charge from their BitOasis account to their bank account in the UAE.
Besides the total elimination of deposit and withdrawal fees, the process of transferring funds to the user’s BitOasis account will now be much simpler and faster. Once the platform has been added as a beneficiary in the user’s online banking profile, the user can quickly transfer money to the BitOasis platform. This will help to drastically reduce long processing times, as is the case with wire transfers abroad.
Ola Doudin, CEO and co-founder of BitOasis said, “At BitOasis, we are constantly looking for new ways to make it easier to buy and sell crypto assets for our clients. By becoming the first crypto asset exchange in the UAE to implement funding options local, we hope to bring an unmatched level of ease and efficiency in the way people buy, sell and trade crypto assets while providing higher levels of consumer protection and staying compliant by working with local partners. “
This launch comes just after the announcement of a $ 30 million Series B funding by BitOasis, its recent merger with the UAE FIU (Financial Intelligence Unit) and its partnership with the Dubai Police Headquarters, through which it aims to raise awareness of crypto fraud.
At the same time as this launch BitOasis Also introduces a brand new “Easy Funding” feature that will allow platform users to make their local deposits free of charge from the BitOasis mobile app or website. By introducing these new services, BitOasis has taken another step towards creating a more consumer-centric, secure and compliant crypto ecosystem in the country and, hopefully, the wider region very soon.