BitOasis, a Dubai-based cryptocurrency exchange, will reportedly no longer be processing deposits or withdrawals in dirhams beginning 15th May 2018.
According to reports, the company notified its account holders on 14th May saying that wire deposits and withdrawal will be “temporarily disabled.” However, credit card deposits – with a discounted fee of four percent per purchase until June 16 – will still be allowed.
Account holders are encouraged to initiate any order to access the dirham balances in their account, or to transfer additional dirhams via wire transfer, by the date for it to be actioned.
BitOasis said that the problem was down to their issuing bank and that the usual means of buying and selling of cryptocurrencies on the platform, which include Bitcoin, Bitcoin Cash, Ethereum, Ripple, Litecoin and the recently added Monero and Zcash, will remain unchanged. Withdrawals of coins into external wallets is also unaffected.
“If you decide to leave your fiat balances the only way for you to withdraw your funds at any time after May 15th would be to convert it to cryptocurrency and send it to an external wallet,” the statement continued.
“If you choose to keep your AED fiat balances after May 15th, currently we do not have any date on when we will be reactivating AED fiat withdrawals, but we are hard at work to provide our customers with this service.”
BitOasis operates in the UAE, Saudi Arabia and Kuwait.
