The leading virtual asset trading platform in the Middle East and North Africa, BitOasis, has been acquired by Indian crypto exchange CoinDCX. BitOasis has the greatest trading volume in Emirati Dirhams.
In August 2023, CoinDCX had previously made a strategic investment in BitOasis.
The acquisition will further enable BitOasis to fortify and broaden its presence in the MENA region as a prominent participant in the virtual assets ecosystem. This will be achieved in conjunction with the company’s recent reopening of its platform in Dubai and the recently acquired license in the Kingdom of Bahrain.
BitOasis has become the preferred platform for retail, institutional, and high-net-worth individuals in the GCC and the broader MENA region to purchase, trade, and maintain a portfolio of more than 60 tokens using fiat currencies such as AED, SAR, and USD.
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The company asserts that it has raised over $40 million in funding from prominent regional and global investors and has processed over $6 billion in trading volume.
BitOasis’ leadership team and brand will remain unaltered as a result of the acquisition, which will promote seamless collaboration and synergy between the two organizations.
Sumit Gupta, Co-Founder, 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,”
Ola Doudin, Co-Founder & CEO, BitOasis, said: “CoinDCX’s acquisition marks an exciting new chapter for BitOasis, one that propels us forward on a much stronger ground. Since the start of BitOasis, trust and regulatory compliance have been a key pillar in our mission to drive crypto adoption across MENA,”
About BitOasis
Founded in 2014 by Ola Doudin, Tarek Kaylani, and Daniel Robenek, BitOasis is a pioneer of the region’s cryptocurrency ecosystem, serving as the go-to platform for first-time cryptocurrency buyers and professional traders alike. BitOasis aims to offer the most secure and regulated infrastructure in cryptocurrency trading for retail and institutional clients across the region.
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