Crystal Intelligence, a global leader in blockchain analytics and compliance, has entered into a strategic partnership with BitOasis, the largest virtual assets trading platform in the Middle East and North Africa (MENA). This collaboration aims to strengthen BitOasis’ compliance framework through Crystal’s advanced anti-money laundering (AML) and transaction monitoring solutions. By integrating Crystal’s technology, BitOasis is poised to enhance the security of its platform and ensure adherence to regional regulations.
BitOasis, established in 2016, has become a major player in the virtual assets market, offering users across 15 countries a secure environment for buying, holding, and selling digital assets. The platform has processed over $6 billion in trading volume since its inception. Now, with Crystal’s cutting-edge blockchain analytics, BitOasis will be equipped with near real-time insights to detect and prevent fraud, further safeguarding user transactions.
Navin Gupta, CEO of Crystal, emphasized the significance of the UAE’s forward-thinking regulations in the cryptocurrency space.
He stated, “The UAE, with its progressive regulations, is poised to become the crypto capital of the world. With our blockchain intelligence expertise, we want to empower licensed firms like BitOasis to keep the platform and their customers safe. We’re proud to be partnering with a leading platform in the region and believe that BitOasis is setting the standard for focusing on building out a robust suite of compliance tools, including Crystal.”
Echoing these sentiments, Ola Doudin, CEO and Co-founder of BitOasis, remarked, “Crystal brings a unique mix of deep analytical compliance capabilities with a user-friendly interface that our team can immediately benefit from. This collaboration underscores our continued commitment to providing a secure and safe trading environment for our users.”
Recently, Crystal opened its Dubai office to expand its presence and offer dedicated services to its regional partners. The digital asset sector continues to evolve, with increasing attention on regulatory compliance, particularly in areas like AML, counter-terrorist financing, and financial market stability. This partnership between Crystal and BitOasis marks a significant milestone in aligning local regulations with cutting-edge analytical technology, setting a new benchmark for compliance in the virtual assets industry.
