BitOasis, a UAE-based Middle East crypto exchange, said it laid off nine of its staff in the face of a downturn and market turmoil. Contrary, Binance has listed over two dozen openings in the Emirates.
Founded in Dubai in 2015, BitOasis serves English and Arabic-speaking customers in the Gulf.
“Earlier this week, nine employees were made redundant across offices in Dubai, Abu Dhabi, and Amman,” BitOasis CEO and co-founder Ola Doudin told Reuters.
The company said this represented nearly 5% of the company’s workforce.
Meanwhile, the world’s largest crypto exchange Binance is hiring for multiple vacancies for its operations in Dubai and Abu Dhabi. It has listed over two dozen openings in the UAE.
Earlier, the head of the Mena region at Binance, Richard Teng, had said that the largest crypto exchange by trading volume would hire over 100 positions in the UAE, following Changpeng Zhao, CEO of Binance, announcement that his company has opened 2,000 positions for hiring globally.
Binance is hiring to fill vacancies in different departments, including business development, customer support, engineering, finance and administration, HR, legal compliance, operations, product and design, security, and IT helpdesk.
Among the jobs listed by Binance on its website for the UAE are client relations executive, institutional sales and account manager, treasury analyst, associate/senior associate, executive assistant, financial controller, senior associate/manager, senior finance manager, HR manager, senior recruiter, heads of digital asset operations, operations specialist, data protection engineer, mobile security engineer, senior security operations engineer, graphic designer, political risk analyst, backend leader, and Java developer.
As earlier reported, BitOasis received permission to operate a Multilateral Trading Facility from the Abu Dhabi Global Market and is registered as a Virtual Asset Service Provider with the Financial Intelligence Unit of the UAE central bank in 2021. It received provisional approval from Dubai’s Virtual Assets Regulatory Authority (VARA) in March 2022.