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BitOasis Expands Bitcoin Purchases in the Middle East

Dubai-based startup BitOasis has announced an expansion of its bitcoin wallet and exchange platform.

By Yessi Bello Perez
AccessTimeIconOct 22, 2015 at 9:16 p.m. UTC
Updated Sep 11, 2021 at 11:57 a.m. UTC
Kuwait

Dubai-based startup BitOasis has expanded its bitcoin wallet and exchange service further across the Middle East.

Attributing the expansion to Kuwait, Bahrain and Qatar to the growing demand for bitcoin in the Gulf region, co-founder Ola Doudin, told CoinDesk that users in those countries had requested the option to buy the digital currency on BitOasis' platform.

Doudin, who claims the startup has close to 20,000 customers, added that future expansion plans included launches in Saudi Arabia and Egypt. The company is looking to move beyond its existing business model with additional products and services aimed at merchants and other companies that can accept bitcoin.

"We're looking to add more features to support merchants and SMEs [small and medium-sized enterprises] to accept and use bitcoin by partnering with existing payment processors in the region ... and rolling out our new mobile apps as well," Doudin said in an email.

The expansion comes after the wallet and exchange launched in May this year.

Kuwait skyline via Shutterstock.

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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.