UAE-based Emirex Exchange has recently raised an undisclosed amount from US-based blockchain and crypto fund Alpha Sigma Capital (ASC). The capital will be deployed towards expansion in new markets and introduce more products in the decentralised finance industry.
As a part of the investment deal, Enzo Villani, CEO and Chief Investment Officer of Alpha Sigma Capital, who is also a strategist for crypto and traditional exchanges such as OKEx and Nasdaq has joined the Emirex advisory board.
Founded in 2019 as ‘BitMEEx.pro’, then rebranded to ‘Emirex Exchange’ in September last year, the company is headquartered in Dubai and operates in the Middle East and Asian markets. The company is aiming to develop infrastructure that creates a new digital economy linking these markets with Africa, Europe, and eventually the United States.
Emirex claims that it has grown to over 100,000 registered users with over 30,000 active traders from around the world. It has 150,000 subscribers among social networks and over 50 trading pairs listed on the exchange.
Commenting on the development for Emirex, Kirill Mishanin, Chief Security Officer at Emirex, in a statement, said,
“Alpha Sigma Capital’s partnership with Emirex comes at a key time for the company. Emirex has entered a new strategic growth phase of bringing VCs, angel investors, and strategic partners to the Middle East and North Africa (Mena) market that requires leadership with extensive blockchain development experience,”
Speaking of Emirex’s core-capacities, Enzo Villani, CEO and chief investment officer at Alpha Sigma Capital, said,
“Emirex’s leadership and the team have extensive experience in enterprise technology, blockchain, and financial markets. We’re excited to be aligned with our partners in the Mena region and plan to leverage our exchange experience to realise the vision and deliver for our customers,”