BitOasis receives investment from CoinDCX and Wamda Capital
The capital raised will be used to expand its regional presence besides fulfilling its roadmap and securing more licenses.
Crypto assets trading platform , has raised an undisclosed amount in investment from the Indian virtual asset service provider (VASP). The round also saw the participation of other investors, including Wamda Capital and Jump Capital.
The capital raised will be used to expand its regional presence besides fulfilling its roadmap and securing more licenses, as per a statement in Wamda.
“The investment will allow us to sharpen our focus on perfecting our existing products and expanding across our markets," said Ola Doudin, Co-Founder and CEO of BitOasis.
Launched in 2016, BitOasis's aims to provide the MENA region with a safe, secure, accessible and compliant way to purchase, sell and trade cryptocurrency.
Currently, it has operations in 15 markets in this region. "We have been impressed by BitOasis’s excellent product offering, strong leadership and their persistence to serve customers in the most secure and compliant manner," said Sumit Gupta, Co-founder and CEO of CoinDCX.
To date, the company has processed more than $5 billion in trading volume. It has raised more than $35 million in funding from regional and global investors including , Pantera and Wamda Capital.
Earlier this year, BitOasis secured a licence from the Dubai Virtual Assets Regulatory Authority to provide broker-dealer services in the region.
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Edited by Akanksha Sarma