India’s CoinDCX Acquires BitOasis in MENA Expansion Bid

India’s CoinDCX Acquires BitOasis in MENA Expansion Bid

•  Strategic Expansion: CoinDCX’s acquisition of BitOasis marks its strategic entry into the MENA region, significantly broadening its market reach beyond India and leveraging BitOasis’s established presence and expertise.

•  Enhanced Capabilities: By acquiring BitOasis, CoinDCX stands to benefit from BitOasis’s strong regulatory framework and substantial trading volumes in Emirati Dirhams, thereby augmenting its operational capabilities and market influence in the virtual asset space.

•  Market Leadership and Synergy: The acquisition is set to bolster BitOasis’s capacity to innovate within the MENA region while providing CoinDCX with a solid foothold in this rapidly growing market. Together, they aim to enhance user experiences, diversify investment options, and implement robust security measures, thereby reinforcing their leadership in the virtual asset industry.

CoinDCX, India’s cryptocurrency exchange, has announced the acquisition of BitOasis, the virtual assets trading platform in the Middle East and North Africa, known for having the highest trading volume in Emirati Dirhams.

The acquisition of BitOasis is expected to extend CoinDCX‘s influence beyond India, enhancing its presence and capabilities in the MENA region.

BitOasis, established in 2015, is known for its strong regulatory framework and high trading volumes in Emirati Dirhams.

This strategic move will not only bolster BitOasis’s capacity to innovate and lead the virtual asset market in MENA but also provide CoinDCX with a solid foothold in a rapidly growing market.

The combined expertise and resources of both entities promise enhanced user experiences, more diversified investment options, and robust security measures.In conjunction with their recent license acquisition in the Kingdom of Bahrain and platform reopening in Dubai, this acquisition signifies a significant step towards creating a more integrated and expansive virtual assets ecosystem in the region.

Sumit Gupta, Co-Founder of CoinDCX, said, “Building on six years of success and supporting more than 15 million Indians in their crypto journey, CoinDCX aims to become the go-to trading platform for crypto worldwide.

“For us, investor protection has been paramount, and we have distinguished ourselves in India with unwavering compliance,” Gupta added.

”Founded in 2016 by Ola Doudin, Tarek Kaylani and Daniel Robenek, BitOasis has emerged as the go-to platform for retail, institutional and high-net-worth individuals across the GCC and the broader MENA region to buy, sell and hold over 60 tokens with fiat currencies such as AED, SAR, and USD.”

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