According to Foresight News, Singapore-based cryptocurrency exchange SDAX has successfully raised $50 million in its Series B2 funding round. The round was led by MPMR, the Muscat Precious Metals Refinery from Oman. The newly acquired funds are earmarked for the launch of a digital asset trading platform in Oman, which will serve as a gateway for other regions in the Gulf and Africa.
Previously, in 2021, SDAX completed an $18 million Series B funding round, with PSA International, Straits Trading Company, and New Horizon Global leading the investment. This latest funding round marks a significant step in SDAX's expansion plans, aiming to enhance its presence and services in the digital asset market across multiple regions.