UAE-based cryptocurrency exchange BitOasis raises $30m

UAE-headquartered cryptocurrency exchange BitOasis has announced the close of its Series B funding round, having raised US$30 million in a round co-led by the Middle East’s Wamda and US-headquartered VC fund, Jump Capital.

Other participants in the funding round include new investors Alameda Research and Global Founders Capital, and existing backers such as Pantera Capital, Digital Currency Group, and NXMH.

Launched in 2015, BitOasis is renowned as the Middle East region’s first and largest crypto-asset exchange. 

Not so long ago, the fintech received the necessary regulatory approvals from the Abu Dhabi General Market (ADGM) and has worked hand-in-hand with both the UAE and Dubai Police in their quest to fight crypto fraud.

BitOasis’ platform facilitates the purchase and sale of digital assets using local currencies. The firm now plans to use the funding round to expand into new markets across the globe.

“This new capital is going to equip us with the resources we need to expand our regional presence while ensuring high standards of regulatory compliance. We work proactively with regulators across the region and will acquire licenses where available,” Ola Doudin, CEO and co-founder of BitOasis said.