UAE-based crypto asset exchange BitOasis has closed a $30 million Series B funding round led by Chicago-based Jump Capital and Dubai-based Wamda.

The company, which currently serves the GCC and wider MENA markets, said the funding will assist its growth trajectory, with geographic expansion on the cards, as well as growth in existing markets.

Other investors include Alameda Research and Global Founders Capital as well as existing backers Pantera Capital, Digital Currency Group, and NXMH.

Ola Doudin, CEO and co-founder of BitOasis said: “Our aim is to build the largest and most trusted cryptocurrency platform in the region, and our latest investment round serves as a vote of confidence in the BitOasis growth story.

“This new capital is going to equip us with the resources we need to expand our regional presence while ensuring high standards of regulatory compliance. We work proactively with regulators across the region and will acquire licenses where available,” Doudin said.

“In line with our ambitious growth strategy, we will also be working towards solidifying our presence and refining our product offering in the countries we already operate in,” she added.

(Writing by Imogen Lillywhite; editing by Daniel Luiz)

Imogen.lillywhite@refinitiv.com

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