UAE-based BitOasis raises US$ 30M to expand regionally
The UAE’s first crypto asset exchange, BitOasis, has closed its Series B funding of US$ 30m, led by prominent global and regional investors. BitOasis is a pioneer of the region's cryptocurrency ecosystem, serving as the go-to platform for first-time cryptocurrency buyers and professional traders alike.
According to a statement by Ola Doudin, CEO & co-founder of BitOasis, the new capital is going to equip the company with the resources needed to expand its regional presence while ensuring high standards of regulatory compliance. “We work proactively with regulators across the region and will acquire licenses where available,” she added.
Doudin also touched upon BitOasis’s growth plans for its existing markets. She said, “ In line with our ambitious growth strategy, we will also be working towards solidifying our presence and refining our product offering in the countries we already operate in. Our team is also working on building strategic partnerships with the public sector to raise the level of awareness around crypto safety in the region. We look forward to sharing more details of our upcoming initiatives very soon.”
The new funding, co-led by Chicago-based VC firm, Jump Capital, along with MENA’s Wamda, is set to propel BitOasis on to an accelerated growth trajectory.
Fares Ghandour, Partner at Wamda, said, “BitOasis is testament to the fact that you need passionate founders, a solid team, and a culture of unity to build a resilient and world-class business, and that’s exactly what this company is. Wamda is as proud as ever to back the region’s leading and most credible exchange since its inception.”
The fundraising round came from new investors such as Alameda Research and Global Founders Capital, as well as existing investors such as Pantera Capital, Digital Currency Group, and NXMH.