CoinDCX Acquires BitOasis to Expand Crypto Footprint in MENA Region

India's largest crypto exchange CoinDCX has acquired the MENA region's leading virtual assets platform BitOasis, strengthening its presence in the region. This move follows CoinDCX's strategic investment in BitOasis and aligns with its expansion plans, leveraging BitOasis's strong regulatory compliance.

India's crypto exchange CoinDCX has announced its acquisition of BitOasis, the Middle East and North Africa's foremost virtual assets trading platform.

This strategic move comes after CoinDCX's initial investment in BitOasis in August 2023, and follows the company's acquisition of a license in Bahrain and the reopening of its Dubai platform. The acquisition signifies a step forward in consolidating CoinDCX's presence across the MENA region.

Established in 2018, CoinDCX boasts a strong user base of over 15 million, offering access to more than 500 crypto assets with quarterly trading volumes exceeding USD 840 million in 2024. The platform is recognized for its stringent KYC norms and is the first in India to register with the FIU IND.

Co-Founder Sumit Gupta stated that the company's expansion strategy focuses on the MENA region, leveraging its mature market and high interest in crypto investments. BitOasis, established in 2016, serves the retail and institutional sectors across the GCC and MENA, offering over 60 tokens in fiat currencies such as AED, SAR, and USD.

Ola Doudin, BitOasis's Co-Founder & CEO, highlighted the shared values of trust and regulatory compliance between the two companies, and emphasized the enhanced user experience and broader product portfolio that this acquisition would bring.

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