UAE-based Emirex Exchange has raised an undisclosed amount from US-based blockchain and crypto fund Alpha Sigma Capital (ASC).

Founded in 2019, Emirex Exchange operates in the Middle East and Asian markets from its headquarters in Dubai. The company looks to develop infrastructure that creates a new digital economy linking these markets with Africa, Europe, and eventually the United States. 

As 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.

The exchange 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. 

“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,” said Kirill Mishanin, chief security officer at  Emirex.

The capital will enable the company to expand into new markets and introduce more products in the decentralised finance industry.

“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,” said Enzo Villani, CEO and chief investment officer at Alpha Sigma Capital.