CoinDCX, a prominent Indian crypto exchange, has completed the acquisition of BitOasis, the foremost virtual assets trading platform in the Middle East and North Africa (MENA) region. This strategic move follows CoinDCX’s initial investment in BitOasis in August 2023 and aims to consolidate its position as a global leader in crypto trading platforms.
Founded in 2016 by Ola Doudin, Tarek Kaylani, and Daniel Robenek, BitOasis facilitates the trading of over 60 tokens with fiat currencies such as AED, SAR, and USD. The platform boasts a trading volume exceeding $6 billion and has raised more than $40 million from leading regional and global investors.
The acquisition marks a significant milestone for BitOasis, enhancing its capabilities to extend its reach across MENA markets. With recent licensing achievements in Bahrain and the reopening of its platform in Dubai, BitOasis is well-positioned to cater to the region’s growing interest in crypto investments.
“This acquisition represents a transformative step forward for BitOasis, reinforcing our commitment to regulatory compliance and customer-centric operations across MENA,” affirmed Ola Doudin, Co-Founder & CEO of BitOasis.
Sumit Gupta emphasized the strategic alignment between CoinDCX and BitOasis in regulatory compliance and customer service excellence. “BitOasis has set industry standards in regulatory compliance, evidenced by its early registration with the UAE Financial Intelligence Unit and recent regulatory milestones,” Gupta stated.
Under the acquisition agreement, BitOasis will maintain its brand identity and leadership team, ensuring continuity and synergy in operations. The combined strengths of CoinDCX and BitOasis are set to accelerate their growth trajectory across MENA, catering to a diverse clientele of retail and institutional investors.