Information Technology
BitOasis Taps Sumsub for Enhanced Identity Verification and Crypto Compliance
BitOasis has chosen Sumsub for crypto identity verification and AML screening for crypto compliance. Since its launch in 2016, as a regulation-first company, BitOasis has maintained a firm focus on its mission of providing retail and institutional users from the region a safe, compliant, and convenient way to buy, sell and hold over 60 cryptocurrencies. BitOasis was the first Virtual Asset Service Provider (VASP) to register with the UAE's Financial Intelligence Unit in 2021, and was amongst the first companies to secure a provisional operating permit from Dubai's Virtual Assets Regulatory Authority (VARA) after the regulator's establishment in early 2022. Having recently reopened its platform to new retail and institutional users, this partnership with Sumsub will enable BitOasis to further enhance its user onboarding process while ensuring full compliance with strict AML and other regulatory requirements.
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Headquartered in Dubai , BitOasis is the largest and most trusted regional cryptocurrency trading platform in the
Middle East and North Africa . Established in 2016, BitOasis is a pioneer of the region's cryptocurrency ecosystem, serving as the go-to platform for first-time cryptocurrency buyers and professional traders alike. Available in 15 countries across the region, the platform provides investors with a safe and secure way to buy, hold and sell 60+ cryptocurrencies. Since its launch, BitOasis has processed more than
$6 billion in trading volume and raised more than
$40 million dollars in funding from leading regional and global investors, such as CoinDCX, Wamda Capital, Jump Capital, Pantera Capital, and Global Founders Capital.
Sumsub is a full-cycle verification platform that secures the whole user journey. With Sumsub's customizable KYC, KYB, Transaction Monitoring and Fraud Prevention solutions, you can orchestrate your verification process, welcome more customers worldwide, meet compliance requirements, reduce costs, and protect your business.
Sumsub has over 2,000 clients across the fintech, crypto, transportation, trading, e-commerce and gaming industries including Bitpanda, Wirex, Avis, Bybit, Huobi, Kaizen Gaming, and TransferGo.
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