Dubai startup BitOasis announces its first round of funding

Dubai based bitcoin startup BitOasis has secured a new investment of seed funding for an undisclosed amount led by Wamda Capital.

BitOasis provides bitcoin exchange, wallet, and cross-border payment services in and around the UAE.

According to Wamda Capital, the seed funding round included Barry Silbert’s Digital Currency Group (DCG), Samih Toukan, the serial tech entrepreneur chairman of Jabbar Group, as well as Payfort and other tech angel investors based in New York and Dubai.

“Our aim since launch is to build the largest digital currency exchange and payments infrastructure platform in the Middle East and North Africa,” said Ola Doudin, CEO and cofounder of BitOasis.

Within the next year using the new venture capital, the bitcoin startup plans to grow its team further and expand to other Arab countries around the region to strengthen its presence outside the UAE.

One of the main advantages that BitOasis has over other startups in the space is at this time it’s the only bitcoin business focused on the Middle East.

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David is a writer, researcher, and developer who is passionate about bitcoin and blockchain. He writes for Bitcoin.com, Blockchain.com, and is the founder of Bitcoinx.io (which was acquired by Bitcoin.com). David previously used to write and curate for Myspace and has worked in the fintech and payments space for over 15 years.