BitOasis Uses Sumsub For AML And KYC Compliance
UAE-regulated crypto broker BitOasis has partnered with Sumsub for crypto identity verification and AML screening for compliance. The partnership will enhance BitOasis’ user onboarding process and ensure full compliance with AML and other regulatory requirements. BitOasis, which recently reopened its platform to new retail and institutional users, is excited to work with Sumsub, a global leader in verification, anti-fraud, and compliance.
The collaboration will help BitOasis strengthen its stringent controls to protect users and the ecosystem from illicit activities and ensure continued full compliance with evolving AML regulations. BitOasis, a leading crypto platform in the Middle East, has recently received its active MVP Operational license from Dubai’s virtual asset regulatory authority, one step towards a full license. The platform holds and sells 60+ cryptocurrencies and has processed over $6 billion in trading volume since its launch. It has raised over $40 million in funding from leading regional and global investors.
(With inputs from Shikha Singh)
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