India’s leading cryptocurrency exchange, CoinDCX, has taken a significant step in its global expansion by acquiring BitOasis, a major virtual assets trading platform based in the UAE. This move marks CoinDCX’s debut in the Middle East and North Africa (MENA) region.
Founded in 2016 by Ola Doudin, BitOasis has grown to become the largest crypto asset exchange in MENA. Operating in 15 countries, BitOasis offers a platform for users to buy, hold, and sell over 60 cryptocurrencies. Since its inception, BitOasis has processed more than $6 billion in trades and raised over $40 million from various investors.
CoinDCX, established in 2018, is India’s top crypto exchange with over 15 million users.
The platform supports over 500 cryptocurrencies and facilitates substantial trading volumes. Known for its user-friendly interface and strict compliance with financial regulations, CoinDCX is dedicated to making crypto investments accessible to all.
Sumit Gupta, Co-Founder of CoinDCX, emphasized the company’s commitment to maintaining high standards of investor protection and regulatory compliance as it ventures into new markets. “Our expansion into MENA is a strategic move to tap into a mature market with a strong interest in crypto investments,” he said.
The acquisition aligns with CoinDCX’s strategy to grow its footprint in the MENA region, especially with its recent licensing achievements in Bahrain and the reopening of its Dubai platform. The partnership aims to enhance BitOasis’s offerings and expand its reach while maintaining the platform’s regulatory integrity.
Ola Doudin, Co-Founder and CEO of BitOasis, shared her excitement about the acquisition, stating that it will strengthen the company’s position and allow for significant growth. “CoinDCX’s acquisition marks a new chapter for us, aligning with our values of trust and regulatory compliance,” she said.
Both CoinDCX and BitOasis are committed to providing a better trading experience for users. The integration will bring a broader range of products and services, increased liquidity, and improved trading options. The leadership teams and brand identities of both companies will remain unchanged to ensure a smooth transition.
In summary, CoinDCX’s acquisition of BitOasis is set to transform the MENA crypto landscape, combining strengths to offer enhanced services and greater opportunities for investors in the region.
Stay tuned for more updates on the crypto world.
