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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.

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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.

Also Read: A Beginner’s Guide To Getting Started With NFTs

“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.

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Facebook Will Create 10,000 Jobs In The EU To Build Its Metaverse

Facebook decided to invest in the EU because the company believes that European talent is world-leading, supported by first-class universities.

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facebook will create 10,000 jobs in the eu to build its metaverse
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Facebook has announced that it wants to create 10,000 jobs in the European Union (EU) to build its metaverse, a virtual reality space in which users can interact with a computer-generated environment and other users.

The concept of the metaverse can be traced to Neal Stephenson’s 1992 cyberpunk novel Snow Crash. In the novel, the metaverse is a virtual shared space that appears to its users as an urban environment. This space is accessed through personal terminals connected to virtual reality goggles.

Sound familiar? That’s because the metaverse is quickly becoming a reality thanks to companies like Oculus, a subsidiary of Facebook, and the combined effort of developers and content creators from around the world.

By creating thousands of new high-skilled jobs within the EU over the next five years, Facebook wants to accelerate the development of the metaverse to usher in a new phase of interconnected virtual experiences, enabled by technologies like virtual and augmented reality.

“At its heart is the idea that by creating a greater sense of ‘virtual presence,’ interacting online can become much closer to the experience of interacting in person,” said Nick Clegg, Facebook’s vice-president of global affairs. “The metaverse has the potential to help unlock access to new creative, social and economic opportunities”.

According to the official announcement, Facebook decided to invest in the EU because the company believes that European talent is world-leading, supported by first-class universities. Facebook also mentioned the role European policymakers are playing in shaping the internet, so it’s likely that the investment has a political dimension to it.

Also Read: How To Lock Your Facebook Profile (From Mobile & Desktop)

Aware of its tarnished reputation, the social media giant stressed that no single company would own and operate the metaverse — just like no single company owns the internet today. Of course, that doesn’t change anything about the fact that Facebook wants to play a huge role in it.

Earlier this year, Mark Zuckerberg told his employees that Facebook is becoming a metaverse company with the goal of building a set of connected social apps and supporting hardware. The recently released Horizon Workrooms remote collaboration app for the Oculus Quest 2 headset can be seen as an early piece of the much larger puzzle the metaverse will become in the future.

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