Who’s Supporting the Expansion?
BitOasis has secured a substantial investment round with notable backing from CoinDCX, one of India’s preeminent virtual asset service providers. This comes alongside continued financial support from existing investors, including Wamda Capital and Jump Capital.
What Does the Investment Mean for BitOasis?
This fresh influx of capital isn’t just about numbers. It’s a testament to the trust and confidence that these investors have in BitOasis’ vision and strategy. The funding is set to catalyze the crypto exchange’s efforts in magnifying its footprint across the MENA region, enhancing its product suite, and securing additional licenses.
The Mutual Admiration Club
Words from the Leaders
Ola Doudin, the dynamic co-founder and CEO of BitOasis, expressed her enthusiasm regarding the partnership with CoinDCX, highlighting shared visions and potential market synergies. She remarked,
The investment sharpens our focus on product enhancement and regional expansion, promising an exciting future.
Echoing similar sentiments, Sumit Gupta, CoinDCX’s co-founder and CEO, lauded BitOasis for its resilient leadership, innovative product suite, and an unwavering commitment to customer security and compliance.
BitOasis in the MENA Crypto Landscape
A Look Back
Since its establishment in 2016, BitOasis has consistently aimed to offer the MENA region a seamless, secure, and regulated channel for cryptocurrency transactions. Claiming a processed trade volume exceeding $5 billion and investments over $35 million since inception, its journey is nothing short of impressive.
Challenges Met Head-On
Earlier this year, BitOasis faced a significant hurdle when its operational license, granted by Dubai’s regulatory body for pioneering digital asset services, was revoked due to alleged non-compliance. However, showing resilience, BitOasis is actively collaborating with the regulators, aiming for a quick reinstatement.
Who are the major investors in the latest funding round for BitOasis?
The prominent investors include CoinDCX, Wamda Capital, and Jump Capital.
When was BitOasis founded?
BitOasis was launched in 2016.
What was the reason for the revocation of BitOasis’ operational license?
The license was revoked due to allegations of non-compliance with mandated conditions. BitOasis is currently working towards having the ban lifted.