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Sumsub’s KYC and AML Solutions to Bolster BitOasis’ User Protection

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Cryptocurrency exchange BitOasis has announced a new partnership with verification and compliance platform Sumsub to enhance its user onboarding process and ensure adherence to anti-money laundering (AML) regulations in the Middle East and North Africa (MENA) region.


  • BitOasis partners with Sumsub for enhanced identity verification and AML compliance.
  • BitOasis is the largest cryptocurrency platform in the MENA region, launched in 2016.
  • BitOasis was the first Virtual Asset Service Provider to register with the UAE’s Financial Intelligence Unit in 2021.
  • The partnership will enable BitOasis to strengthen user onboarding while ensuring compliance with AML regulations.
  • Sumsub is a global leader in verification, anti-fraud and compliance solutions.

Established in 2016, BitOasis has grown to become the largest and most trusted cryptocurrency trading platform in MENA, serving both retail and institutional investors across 15 countries.

The Dubai-based exchange allows users to buy, sell, and hold over 60 cryptocurrencies, with a focus on providing a safe, compliant, and convenient trading environment.

As a pioneer in the region’s cryptocurrency landscape, BitOasis has consistently prioritized regulatory compliance. In 2021, the company became the first Virtual Asset Service Provider (VASP) to register with the UAE’s Financial Intelligence Unit. F

ollowing the establishment of Dubai’s Virtual Assets Regulatory Authority (VARA) in early 2022, BitOasis was also among the first to secure a provisional operating permit from the regulator.

The collaboration with Sumsub comes as BitOasis reopens its platform to new retail and institutional users. By integrating Sumsub’s Know Your Customer (KYC) and AML screening solutions, the exchange aims to further strengthen its stringent controls to protect users and the broader ecosystem from illicit activities while ensuring full compliance with evolving AML regulations.

Sumsub, a global leader in verification, anti-fraud, and compliance solutions, offers a full-cycle verification platform that secures the entire user journey.

The company’s customizable KYC, Know Your Business (KYB), transaction monitoring, and fraud prevention solutions enable businesses to orchestrate their verification processes, onboard customers worldwide, meet compliance requirements, reduce costs, and safeguard their operations.

Stanford Cardoz, AML Director at BitOasis, expressed excitement about the collaboration, stating,

“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.”

Peter Sever, co-founder and Chief Strategy Officer of Sumsub, echoed this sentiment, saying,

“We are thrilled about our collaboration with BitOasis, a leading crypto platform in the Middle East. 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.”

The post Sumsub’s KYC and AML Solutions to Bolster BitOasis’ User Protection appeared first on Blockonomi.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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