News

BitOasis Secures $30 Million In Funding To Accelerate Growth

BitOasis currently allows its users to buy and sell more than 20 cryptocurrencies, including Bitcoin, Ethereum, and Ripple.

Published

3 years ago

October 14, 2021

David Morelo

bitoasis secures $30 million in funding to accelerate growth

BitOasis, the largest cryptocurrency platform in the MENA region, has successfully raised $30 million in a Series B round to accelerate its growth while ensuring high standards of regulatory compliance.

The platform was founded in 2015 by Ola Doudin, and it’s headquartered in the United Arab Emirates. Thanks to its founder’s visionary ability to predict the increasingly important role cryptocurrencies are playing in the world, it had been perfectly positioned to take advantage of the cryptocurrency boom.

The funding round was co-led by Chicago-based VC firm Jump Capital, along with Wamda, the largest growth stage fund in the MENA region. Other investors that joined in include Alameda Research, Global Founders Capital, Pantera Capital, Digital Currency Group, and NXMH.

“The company perfectly embodies the elements we seek when investing in international crypto exchanges,” says Peter Johnson, a partner leading Jump Capital’s crypto strategy. “An exceptional team that deeply understands the market, a focus on regulatory compliance, and an ability to build a leading consumer brand”.

According to the official funding announcement, BitOasis wants to solidify its presence and refine its product offering in the countries the cryptocurrency platform already operates in while also expanding to nearby countries. BitOasis is also building strategic partnerships with the public sector to raise awareness around crypto safety, one of the biggest roadblocks to its wider adoption.

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“Our latest investment round serves as a vote of confidence in the BitOasis growth story,” commented Ola Doudin. “It further speaks to the state of interest in the MENA region’s growing crypto ecosystem, with global investors and venture capital heavyweights backing the region’s home-grown businesses”.

BitOasis currently allows its users to buy and sell more than 20 cryptocurrencies, including Bitcoin, Ethereum, and Ripple, with UAE Dirham (AED) and Saudi Riyal (SAR). To start trading, all that users have to do is sign up, verify their identity, and securely deposit funds through one of the supported options.

News

Samsung Galaxy Ring Wearable Will Launch In Eight Sizes

A recent Korean report reveals the model numbers of the new health tracking device, as well as details of its key features.

Published

15 hours ago

April 25, 2024

Nour Nasir

samsung galaxy ring wearable will launch in eight sizes

The global launch of the Samsung Galaxy Ring is hotly anticipated, with details about the next-gen wearable gradually emerging since the company’s teaser announcement back in January. Now, a report has also unveiled the model numbers for the device, suggesting it will be available in eight different sizes.

While Samsung has yet to divulge detailed specs and features of the Galaxy Ring, it’s likely to feature an array of health and sleep monitoring functionalities, while boasting a battery life of up to nine days on a single charge.

As per a Galaxy Club report, there are currently eight confirmed variants of the Galaxy Ring: SM-Q500, SM-Q501, SM-Q502, SM-Q505, SM-Q506, SM-Q507, SM-Q508, and SM-Q509.

However, the mystery shrouding two absent model numbers persists, leaving speculation as to whether they signify additional sizes or if Samsung plans to unveil a later ninth variant of the ring, as previously hinted. There’s conjecture that these models may correspond to US ring sizes 5 and above, commencing with the SMQ500, with subsequent numbers potentially indicating larger ring sizes, possibly reaching up to size 13, aligning with model number SM-Q509.

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Recent Korean reports have shed light on how Samsung’s Mobile eXperience division (MX) collaborated with the Home Appliance department to integrate Samsung Food with the Galaxy Ring: Tailored for daily activity tracking, the Galaxy Ring, when paired with Samsung Food and an intelligent Samsung refrigerator featuring AI vision, delivers personalized dietary guidance based on calorie intake and BMI.

Samsung is banking on the user-friendly interface and high durability of the ring to redefine the healthcare wearables landscape. Meanwhile, Apple is also making strides in the development of a smart ring, aimed at monitoring users’ health biometrics discreetly when worn on the finger. According to the Electronic Times report, Apple has been closely monitoring market interest in this more inconspicuous alternative to a traditional watch.