SDAX Secures $50 Million in Series B2 Funding to Expand into Oman
Singapore-based cryptocurrency exchange SDAX has achieved a major milestone with the successful completion of its Series B2 funding round, raising a substantial $50 million.
This latest investment round was led by MPMR, the Muscat Precious Metals Refinery from Oman, demonstrating growing interest in digital assets from the Middle East region.
Expanding into Oman and Beyond
The newly acquired funds will be utilised to launch a digital asset trading platform in Oman. This strategic move positions SDAX as a key player in the Gulf region, offering investors and traders access to a wide range of cryptocurrencies and digital assets.
A Strong Foundation
SDAX’s expansion into Oman builds upon the success of its previous funding round in 2021, where it secured $18 million from prominent investors including PSA International, Straits Trading Company, and New Horizon Global. This latest investment further solidifies SDAX’s position as a leading cryptocurrency exchange in the region.
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Key Highlights of the Series B2 Funding Round:
- Significant Investment: $50 million raised to fuel expansion and growth.
- Strategic Partnership: MPMR’s involvement strengthens SDAX’s presence in the Middle East.
- Focus on Oman: The new platform will serve as a gateway for digital asset trading in Oman and other Gulf regions.
SDAX’s Commitment to Growth and Innovation
This latest funding round marks a significant step forward for SDAX as it continues to expand its operations and services. By establishing a presence in Oman, SDAX aims to cater to the growing demand for digital assets in the region and provide a reliable and secure trading platform for investors.
SDAX: A Leading Cryptocurrency Exchange in Singapore
Key Features and Services:
- Wide Range of Cryptocurrencies: SDAX supports a diverse selection of digital assets, including Bitcoin, Ethereum, and other popular cryptocurrencies.
- Secure Trading Environment: The platform prioritises security measures to protect user funds and data.
- User-Friendly Interface: SDAX offers an intuitive and easy-to navigate platform, making it accessible to both experienced traders and newcomers.
- Advanced Trading Tools: The exchange provides professional-grade trading tools and features to cater to the needs of experienced traders.
- Fiat Currency Support: SDAX allows users to deposit and withdraw funds in monetary currencies, making it convenient for traders.
SDAX strengthens its security and compliance measures by partnering with a leading digital asset custodian. The exchange continues to expand its offerings by regularly adding new cryptocurrencies to its trading platform. This commitment to regulatory compliance ensures a safe and secure trading environment for users.
Fees and Charges:
- Trading Fees: SDAX typically charges a maker-taker fee structure, where makers (those who add liquidity to the market) pay a lower fee than takers (those who remove liquidity). The exact fees may vary based on trading volume.
- Deposit and Withdrawal Fees: Fees may apply for depositing and withdrawing funds from your SDAX account. The specific fees will depend on the payment method used.
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Getting Started on SDAX:
- Create an Account: Visit the SDAX website and register for a new account.
- Verify Identity: Complete the necessary identity verification process to comply with regulatory requirements.
- Deposit Funds: Fund your account using your preferred payment method.
- Start Trading: Once your account is funded, you can begin trading your desired cryptocurrencies.
Remember, cryptocurrency trading involves risks, and it’s essential to invest wisely and responsibly. Stay tuned for updates on SDAX’s expansion plans and the launch of its new digital asset trading platform in Oman.