Dubai crypto exchange BitOasis raises $30 million funding round

The Dubai-based crypto exchange BitOasis has closed a $30 million funding round.

The Series B round was co-led by Jump Capital and Wamda, according to a Wednesday morning announcement. A mix of new and old investors also participated, including newcomers Alameda Research and existing stakeholders Digital Currency Group, NXMH and Pantera Capital.

“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," Ola Doudin, BitOasis' CEO and co-founder, said in a statement.

Peter Johnson, a partner at Jump, said in a statement: “We are thrilled to be backing BitOasis as they continue to scale the leading crypto platform in the Middle East.”  

BitOasis is one of a number of firms operating in Dubai's crypto sector. At the beginning of the year, Dubai’s financial services regulator said that it would develop a regulatory framework for the industry.