RIPPLE BOOST: Cryptogiant added to BitOasis list of tradable currencies in Dubai

Monday, January 29, 2018
By Paul Martin

RIPPLE (XRP) has been handed a boost as Dubai-based cryptocurrency exchange BitOasis announced that from tomorrow investors will be able to trade the cryptocurrency on the website.

Mon, Jan 29, 2018

BitOasis was founded in 2014 by Jordanian entrepreneur Ola Doudin. Mrs Doudin has featured on the front page of Forbes Middle East as BitOasis was ranked 19th on a list of most promising UAE-based startups.

Before Ripple joined its ranks you could only trade bitcoin and ethereum via the site. But BitOasis said it added the cryptocurrency to its site to meet an “increased demand”.

The announcement pushed Ripple up to $1.40 but since it has fallen back to $1.33.

Ripple has a market capitalisation of $51,480,834,27.

BitOasis said: “We’ve decided to introduce XRP trading to meet the increased demand from our customers to add to the list of major cryptocurrencies and digital assets offered on our platform.

“As one of the largest and fastest-growing companies in the blockchain space in the region, we’re committed to providing our customers with a secure way to buy and sell bitcoin, ethereum and now, Ripple.”

However, Emirates NBD, a banking group in the Middle East blocked some transfers to BitOasis and other cryptocurrency exchanges this month amid fears of criminals using the digital tokens.

Emirates NBD said: “It does not prohibit customers from undertaking transactions involving blockchain-based trading platforms including transactions with BitOasis, other similar companies or any Bitcoin transactions.

“Emirates NBD does however have policies, systems and controls to detect and prevent financial crime including money laundering, terrorist financing and breaches of international sanctions in line with its regulatory obligations and the expectations of our correspondent banks.

“It is therefore possible that some transactions associated with Bitcoin may be rejected by Emirates NBD or as a result of rejections by other domestic or international correspondent banks.”

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