UAE-based cryptocurrency exchange BitOasis secures $30mn to fuel expansion goals

By Shilpa Annie Joseph, Desk Reporter
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BitOasis
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UAE-based leading cryptocurrency trading platform BitOasis has raised $30 million in a Series B round in order to accelerate its growth plans.

According to the statement, the round is co-led by the Middle East region’s leading startup ecosystem enabler, Wamda and US-based VC Jump Capital.

Further, the fundraising round comprises new investors, such as Alameda Research and Global Founders Capital, with existing investors such as Pantera Capital, Digital Currency Group, and NXMH.

Mr. 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 their inception.”

Ola Doudin
Ola Doudin
CEO & Co-Founder BitOasis

“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.”

“The company perfectly embodies the elements we seek when investing in international crypto exchanges – an exceptional team that deeply understands the market, a focus on regulatory compliance, and an ability to build a leading consumer brand,” commented Mr. Peter Johnson, Partner at Jump Capital.

Related: ADGM Regulatory Authority, SCA unite to allow entities to list shares on UAE markets


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