UAE-based digital asset exchange BitOasis has raised $30 million in a Series B round co-led by US VC firm Jump Capital and returning investor Wamda, BitOasis announced in a statement. The round was also joined by Alameda Research, Global Founders Capital, and existing investors including; Pantera Capital, Digital Currency Group, and NXMH.
The Series B round was led by Chicago-based VC firm Jump Capital, along with Jordanian startup platform Wamda.
Ola Doudin, CEO & co-founder of BitOasis said, “Our aim is to build the largest and most trusted cryptocurrency platform in the region, and our latest investment round serves as a vote of confidence in the BitOasis growth story. It further speaks to the state of interest in the MENA region’s growing crypto ecosystem, with global investors and venture capital heavyweights backing the region’s home-grown businesses.”
“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 .”, Doudin added.
Founded in 2015 by Ola Doudin and Daniel Robenek, BitOasis enables users in the Middle East to buy, sell and store crypto assets, including Bitcoin, Ethereum, Ripple, Tether, Bitcoin Cash, Litecoin, and a few others. The startup's services are currently available in UAE, Saudi Arabia, Kuwait, Bahrain, Oman, Egypt, Jordan, and Morocco but the withdrawals are only available in AED for banks in the UAE, Kuwait, Bahrain, and Oman.
The trading platform recently announced partnerships with UAE government bodies, such as the Dubai Police, to tackle important issues in the crypto space.
