BitOasis Raises Funds From Investors Including India’s CoinDCX
Indian digital-asset platform CoinDCX was one of the investors in a round of fundraising for the Dubai-based cryptocurrency exchange BitOasis.
The deal’s terms and valuation weren’t made public. Wamda Capital and Jump Capital, two previous investors, also took part in the round, according to the business.
BitOasis was established in 2016 and supports nations such the United Arab Emirates, Saudi Arabia, Bahrain, and Kuwait. According to researcher Chainalysis, the Middle East and North Africa area experienced the world’s fastest cryptocurrency market growth between mid-2021 and mid-2022. According to the business, BitOasis raised $30 million back in 2021.
BitOasis received Dubai’s first minimum viable product operational license, enabling broker-dealer services for digital assets. However, the company was reprimanded in July for failing to meet local regulator’s mandated conditions.
(With inputs from Shikha Singh)
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