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FinancialNews
17-01-18
Dubai BitOasis on halting cryptocurrency transfers
(MENAFN) The block of transfer for customers using blockchain-based cryptocurrency trading platforms carried out by Emirates NBD is "unfortunate", as stated by BitOasis.
BitOasis released a statement confirming the company company "is working tirelessly" at resolving "bottlenecks" which originated throughthe exponential boost in demand for its services across the GCC.
In the statement, it said "it is our understanding that Emirates NBD's recent policy to halt transfers for customers with blockchain-based trading platforms applies not only to BitOasis but to similar companies in the blockchain space both locally and internationally."
It further added "it is unfortunate to see one of the UAE's major financial institutions taking such a position on products built using this innovative and much in demand technology. We continue to actively build strong relationships with other leading financial institutions as well as regulators in the UAE, with the aim of fostering an environment more conducive to blockchain technology adoption."
MENAFN1701201800450000ID1096360622
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