India's leading crypto exchange, CoinDCX, has acquired UAE-based BitOasis, marking its entry into the Middle East and North Africa (MENA) region. The terms of the acquisition remain undisclosed, but this strategic move highlights CoinDCX's ambitions for global expansion and new growth opportunities.

BitOasis Overview

BitOasis, founded in 2016 by Ola Doudin, Tarek Kaylani, and Daniel Robenek, is the first and largest crypto asset exchange in the MENA region. Operating in 15 countries, it allows users to buy, hold, and sell over 60 cryptocurrencies. The platform has processed over $6 billion in trading volume and raised more than $40 million in funding from notable investors.

CoinDCX Background

Established in 2018, CoinDCX is a prominent cryptocurrency exchange in India, dedicated to democratizing investments in virtual digital assets for its 15 million users. The company had previously invested in BitOasis in August 2023, alongside Wamda Capital and Jump Capital.

Post-Acquisition Strategy

Post-acquisition, BitOasis will maintain its brand and leadership team, continuing to manage the exchange. CoinDCX plans to utilize BitOasis's strong market presence and regulatory achievements to enhance the user experience with more tokens, increased liquidity, and improved trading services. BitOasis investors will receive equity in CoinDCX.

Regulatory Achievements

BitOasis recently secured a license from the Central Bank of Bahrain (CBB) and reinstated its Operational MVP license under Dubai's Virtual Assets Regulatory Authority (VARA). These regulatory accomplishments will strengthen its position in the MENA region, allowing it to operate as a broker-dealer and reinforcing its commitment to trust and compliance.

Leadership Perspective

Ola Doudin, Co-Founder & CEO of BitOasis, expressed excitement about the acquisition, emphasizing the shared values of trust and customer-centricity between BitOasis and CoinDCX. This acquisition is a pivotal step forward, enhancing BitOasis's presence and operations across the MENA region.

CoinDCX's acquisition of BitOasis is a major milestone in its international expansion strategy, positioning the combined entity as a leading player in the MENA region's virtual assets ecosystem. This move is expected to enhance the crypto trading experience for users and open new avenues for growth and collaboration.