CoinDCX Acquires MENA Region’s Crypto Leader BitOasis

CoinDCX, the largest crypto exchange in India, proudly announces the acquisition of BitOasis, the Middle East and North Africa’s leading virtual assets trading platform boasting the highest trading volume in Emirati Dirhams. CoinDCX had previously made a strategic investment in BitOasis in August 2023. BitOasis received a no-objection from Dubai’s Virtual Assets Regulatory Authority regarding the acquisition. 

The two market leaders joining forces marks a first-of-its-kind, transformative deal in the MENA region. Combined with the company’s newly acquired license in the Kingdom of Bahrain and the recent reopening of its platform in Dubai, the acquisition will further empower BitOasis to strengthen and expand its presence across the MENA region as a leading player in the virtual assets ecosystem, licensed and regulated in multiple markets.

Why BitOasis’ acquisition aligns perfectly with CoinDCX’s principles

BitOasis was the first platform to register with the UAE Financial Intelligence Unit in 2021 and the company has maintained strong, constructive, and proactive relationships with regulators across the region since its launch. BitOasis has recently received approval from Dubai’s Virtual Assets Regulatory Authority (VARA) to reopen its platform for new retail and institutional users, and secured a new license from the Central Bank of Bahrain (CBB), further solidifying its presence in the region

BitOasis’s licenses in Bahrain and the UAE reflect its longstanding and uncompromising commitment to operating within established regulatory frameworks. Joining forces with BitOasis, a platform available in 15 countries across the region, aligns perfectly with CoinDCX’s vision. 

On BitOasis’ Leadership and Team 

BitOasis has one of the best teams in the region, and leadership and team will remain unchanged, fostering synergy between both organizations. The day to day business will continue to be managed under the leadership of Ola Doudin. BitOasis is a strong and well known brand in the MENA region, hence the brand will remain unchanged.

What can the BitOasis Users expect? 

The BitOasis Platform will continue to operate as usual. Users can expect a broader product portfolio, enhanced crypto services offering, broader access to an expanded range of tokens, increased liquidity, improved trading options, and an overall enhanced user experience.

Sumit Gupta, Co-Founder of CoinDCX

“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. We are committed to upholding the same standards wherever we operate. This principle will continue to guide our actions as we navigate new markets and opportunities. Our expansion strategy begins with the MENA region, capitalizing on its mature market and the population’s keen interest in crypto investment.”

Neeraj Khandelwal, Co-Founder of CoinDCX

“With a robust engineering team, CoinDCX has simplified crypto investment for the masses in India and built innovative products like the Okto self-custodial wallet and Okto Chain. Over the last six years, we have progressed from an exchange to an entire Web3 ecosystem. We are fully prepared for global expansion, driven by our dedication to creating a thriving and inclusive Web3 ecosystem. The acquisition of BitOasis is a significant milestone in CoinDCX’s journey. I am excited about the future we will create together with BitOasis.“

Ola Doudin, Co-Founder & CEO of BitOasis

“CoinDCX’s acquisition marks an exciting new chapter for BitOasis, one that propels us forward on much stronger ground. Our organizations are united by two key pillars: a strong focus on regulation and compliance and an unwavering commitment to customer-centricity, both vital for sustainable success. We take pride in our recent regulatory milestones, including the reopening of our trading platform in Dubai to new retail and institutional clients, and securing a license from the Central Bank of Bahrain, reinforcing our regional presence.”