New Bitcoin Buying Platform Launched for Middle East Market

By May 7, 2015Bitcoin Business
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New Bitcoin Buying Platform Launched for Middle East Market

The recently concluded NY Techcrunch Disrupt featured plenty of promising startup ideas, one of which is the bitcoin buying platform designed to cater to the Middle East and North Africa markets. Called BitOasis, the company is based in Dubai and was launched during the Startup Alley portion of the event.

According to its website, BitOasis is Middle East’s first bitcoin wallet that uses multi-signature verification to protect your assets. The company’s goal is to increase bitcoin buying liquidity in the Middle East and North Africa as part of their plan to serve remittance needs in the region.

Bitcoin Buying Platform Features

“The UAE specifically serves as a gateway to the Middle East, but it’s a big outbound remittance market with corridors to India, Philippines, Thailand, Kenya and other countries. It’s a connection between different countries and different markets and we see a big opportunity for bitcoin,” explained BitOasis co-founder Ola Doudin.

Currently, BitOasis is running a brokerage service allowing customers to access bitcoin buying services in more liquid markets. Eventually, they plan to open up a cash-in cash-out service that appeals to roughly 75% of consumers in the region.

BitOasis also offers a three-layer multi-signature wallet and has been able to garner roughly 15,000 clients since its launch in January. These clients come from various countries such as UAE, Egypt, Morocco, Tunisia, Indonesia, and Malaysia.

BitOasis participated in NY TechCrunch primarily to present its idea on the event’s main stage. However, the company fell short in a vote to be included among the presentations and has focused on networking and building connections with the other startups in the event instead.

“For us, it’s about networking with startups and investors,” Doudin said. “We’ve been approached by different people, people who want internships and other startups who are interested in payments to the Middle East.”

According to its website , BitOasis is Middle East’s first bitcoin wallet that uses multi-signature verification to protect your assets. The company’s goal is to […]

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