UAE regulated crypto broker platform BitOasis will be using Sumsub, a full cycle verification platform providing customizable KYC, KYB, transaction monitoring, and AML solutions.

BitOasis has chosen Sumsub for crypto identity verification and AML screening for crypto compliance. 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.

“We are excited to start working with Sumsub, a global leader in verification, anti-fraud and compliance. Sumsub will enable us to further strengthen the stringent controls we use to protect our users and ecosystem from illicit activities and support us in ensuring continued full compliance with evolving AML regulations. By implementing Sumsub’s KYC and AML Screening solutions, we make sure to provide the best user experience to our customers in the Middle East and beyond,” says Stanford Cardoz, AML Director at BitOasis.

“We are thrilled about our collaboration with BitOasis, a leading crypto platform in the Middle East,” comments Peter Sever, co-founder and Chief Strategy Officer of Sumsub. “We are proud to join BitOasis’ mission of building infrastructure for a new digital financial system based on cryptocurrencies, a system that is transparent, inclusive, compliant and secure.”

BitOasis recently received its active MVP Operational license from Dubai’s virtual asset regulatory authority, one step towards receiving a full license.

BitOasis noted that it holds and sells 60+ cryptocurrencies adding that since its launch, it 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.