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.
Updated Oct 6, 2021 at 2:11 p.m. UTC
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/6TB5OKAXHVCVBGWNUD3NOU6CQ4.jpg )
Dubai. (Radomir Rezny/Shutterstock)
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.
DISCLOSURE
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Tanzeel Akhtar is a CoinDesk news reporter based in Europe.
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/USIQLQVQX5DRRBBRVGRIRZORWA.png )
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/HQX3K7EX4RHHXELJZU6DBEQP3Y.jpg )
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/TH45JPSDANG7BHTJZAJNBJ7XRQ.jpg )
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/ENCH7EM5CBDLVCZ43PBBW3GS3M.png )