How to Create a Cryptocurrency Exchange Platform in Oman?
While many countries are still unsure about using cryptocurrency, Oman is taking strong steps to grow in this area. The country is building good systems and plans to become a new and exciting place for digital assets. Oman wants to grow its economy by investing in blockchain, Bitcoin mining, and making platforms to trade crypto. It is now easier to build a crypto exchange in Oman, thanks to new laws from the Financial Services Authority (FSA).
Oman gives official licenses to companies called Virtual Asset Service Providers (VASPs). These licenses make it possible to create a cryptocurrency exchange website in Oman, something many other Middle Eastern countries do not offer.
To create a crypto exchange platform in Oman, you need not only technical knowledge but also a good understanding of the laws, cybersecurity, and user experience for people in this region. In this guide by DigiAlpha, we show you the steps to create an OTC exchange platform in Oman or create a P2P exchange platform in Oman.
Cryptocurrency in Oman
Investing in crypto is a main goal for Oman and is helping the country grow its digital economy. Soon, Oman could become a strong competitor to the UAE in the crypto space.
Oman is moving forward with plans to develop its crypto industry as part of its national strategy to reduce oil dependency and digitize the economy. With big investments and modern infrastructure, Oman is becoming a major crypto hub in the Middle East. By 2030, it plans to use 30% renewable energy, which is very useful for Bitcoin miners who need stable and cheap electricity.
In 2019, after detailed reviews, the government of Oman said that cryptocurrencies are allowed under Islamic law. This decision helped make crypto more accepted and supported in the country.
Is cryptocurrency allowed in Oman?
Right now, Oman’s Central Bank does not treat crypto as legal money. But since 2023, the Financial Services Authority (FSA) has made a legal framework to register and give licenses to VASPs. These licenses cover services like exchanging, transferring, storing, and managing crypto.
Only two companies are officially allowed to mine Bitcoin. New regulations are still being developed, so doing crypto business without a license is still risky.
Make sure to read: The Future of P2P Crypto Exchange Design
How to create a crypto exchange platform in Oman: Step-by-step guide
1. Understand the legal rules
The first step to create an exchange platform in Oman is to understand the country’s rules. But how to get a crypto trading license in Oman? You must get a VASP license from the FSA. This license covers services like spot trading, crypto-to-fiat exchange, crypto-to-crypto exchange, storage, and more. Anonymous assets or hidden transactions are not allowed.
2. Register a legal company
You need to open a legal business in Oman, usually as an LLC. You also need to hire a Compliance Officer to handle anti-money laundering (AML) and security rules. Prepare a business plan, risk assessment, KYC/AML policies, and cybersecurity plans to send to the FSA for your license.
3. Design the exchange platform
Once your legal setup is ready, you can start developing the exchange platform. At Digi Alpha, we help businesses create a cryptocurrency exchange website in Oman. We have over 5 years of experience in blockchain and fintech. Our platforms include online crypto exchanges like Binance, crypto investment platforms, and tokenized asset systems.
Key features include strong security (multi-layer authentication, encrypted data, cold wallets), a simple user interface, full customization options, and real-time analytics. We also offer full support and updates.
Make sure to read: What is crypto exchange platform and how does it work
4. Apply for the VASP license
After finishing your technical setup, send your VASP license application to the FSA. Include your company info, technical systems, security plans, and executive team documents. The FSA usually makes a decision within a month after receiving full documentation.
5. Connect to banks and payment services
To attract local users, your platform must support deposits and withdrawals in Omani Rial (OMR). This means working with local banks or payment service providers. You can also add card payments, bank transfers, and crypto gateways—always following AML rules.
6. Launch and grow your exchange
After getting your license and finishing the setup, launch a test version with a few users. Offer support in Arabic and English. Keep your platform updated with FSA rules and run regular security checks. Use digital marketing, SEO, influencers, and business groups to grow your user base.
Make sure to read: How to order a ready-made cryptocurrency exchange website
Conclusion
Are you ready to enter the world of digital currencies and find your place in this growing and profitable industry? DigiAlpha is your gateway to build a crypto exchange in Oman. Building these platforms is complex and needs skilled developers. With over 5 years of focused experience, we have created a full crypto exchange platform like Binance that is already live with multiple clients.
If you want to create a P2P exchange platform in Oman or create an OTC exchange platform in Oman, contact us today for a free consultation and cost estimate.