Crypto Exchange BitOasis Raises $30M to Fuel Geographic Expansion

The Dubai-based exchange will use the funding to expand in the region and to meet regulatory compliance.

Oct 6, 2021 at 1:05 p.m. UTC
Updated Oct 6, 2021 at 2:11 p.m. UTC

Crypto exchange BitOasis has raised $30 million in a Series B funding round co-led by Jump Capital and venture capital firm Wamda Capital, which focuses on the Middle East and North Africa.

  • The money will be used to fund the Dubai-based exchange’s expansion in the region and to meet regulatory compliance.
  • Other investors included Alameda Research – the investment vehicle of FTX CEO Sam Bankman-Fried, Global Founders Capital and existing investors including Pantera Capital, Digital Currency Group and NXMH.
  • “We will also be working towards solidifying our presence and refining our product offering in the countries we already operate in,” CEO Ola Doudin said.
  • CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in BitOasis.

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Tanzeel Akhtar is a CoinDesk news reporter based in Europe.