BitOasis, one of the most popular exchanges in the Middle East and North Africa, announced its closure of $30 million in its Series B round. According to the management of the exchange, the funds generated from this round would take the BitOasis to its next stage.
Some existing and new investors contributed to this fund. Jump Capital and Wamda led this round along with other investors like Alameda Research, Pantera Capital, NXMH, Global Founders Capital, and Digital Currency Group.
Ola Doudin, the CEO and Co-Founder of BitOasis, noted that this fund will be channeled towards the overall growth of the firm and gaining dominance as the largest exchange in the MUNA region. The exchange plans to do this by obtaining licenses from the relevant regulators in the region.
Furthermore, Ola remarked that BitOasis hopes to refine and define its products better. This is necessary, according to her, to meet market demands and provide contextualized crypto products for the users in the MUNA region.
“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 will also be working towards solidifying our presence and refining our product offering in the countries we already operate in,” she commented.
In addition, she announced the intention of BitOasis to make strategic partnerships with the public. The aim of these partnerships is to create awareness about crypto and reach more people. However, she didn’t disclose more details about this.
Such partnerships are already the order of the day in the crypto world. As Coinbench reported some days ago, CoinCDX made Amitabh Bachchan its ambassador in India.