Dubai-based crypto exchange BitOasis adds Ripple (XRP)

Dubai-based digital asset exchange BitOasis that has recently raised a significant round of investment has announced that it will be adding Ripple to its platform tonight (12 AM UTC).  Customers using the platform will be able to buy Ripple (XPR) using wire transfers in AED or credit cards issued by UAE banks, the company said in a statement.

Ripple is the third cryptocurrency to be made available for trading on BitOasis. The platform until now could be used for trading Bitcoin and Ethereum only, the two largest cryptocurrecnies by market cap.

Ripple (XRP) was trading at $0.20 for a very long until recently when the cryptocurrency went as high as $3.40 earlier this month but now is down to $1.2-1.4 territory, currently trading at $1.37.

Initially, BitOasis won’t be charging any fees for trading Ripple (XRP).

“Users will be able to place buy and sell limit and market orders with AED through wire deposits or credit card payments. New customers can also submit an account verification until 23:59 UTC on Jan 30th to make sure they can deposit and trade using higher limits,” the company said in a statement it shared on Twitter.

“We’ve decided to introduce XRP trading to meet the increased demand from our customers to add to 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 sale Bitcoin, Ethereum and now, Ripple.”

BitOasis was founded in 2014 as the first Middle East based digital asset exchange in 2014 allowing users to trade Bitcoin. In February last year, the Dubai-based startup then added Ethereum to its platform.

There has been a lot of activity in cryptocurrency space lately in UAE with a new exchange being launched earlier this month and JadoPado’s founder Omar Kassim announcing his plans to launch BitPado, a crypto exchange for Middle East, Africa & Asia.