Dubai-based cryptocurrency trading platform BitOasis is expanding in the Middle East and North Africa (MENA) with another major funding round.
BitOasis closed a $30-million Series B funding round led by Chicago-based venture capital firm Jump Capital and Dubai-based VC company Wamda Capital.
Wamda previously invested in BitOasis back in 2016,leading a seed funding round of an undisclosed sum. The latest round included new investors, such as Sam Bankman-Fried’s crypto trading firm Alameda Research, and Global Founders Capital, as well as existing investors, including Pantera Capital, Digital Currency Group and Belgium-based investment firm NXMH.
The new funding will help the crypto exchange to further grow its presence in the MENA region as well as ensure regulatory compliance, BitOasis co-founder and CEO Ola Doudin said.
“We see a lot of potential for crypto adoption within the MENA region. We also believe that the right regulation coupled with investor awareness and education initiatives is going to drive mass adoption of crypto assets in the region,” Doudin told.
(Except for the headline, this story has not been edited by The Finance World staff and is published from a syndicated feed.)
