In a bid to expand its global footprint, CoinDCX, the largest crypto exchange in India, on Wednesday, July 3, announced the acquisition of Dubai-based BitOasis, a leading virtual assets trading platform. The acquisition’s financial details were not disclosed.
The move follows CoinDCX’s strategic investment in BitOasis in August 2023.
The two market leaders joining forces marks a first-of-its-kind, transformative deal in the Middle East and North Africa (MENA) region.
In a statement, Sumit Gupta, Co-Founder of 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. 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.”
He added, “Our expansion strategy begins with the MENA region, capitalizing on its mature market and the population’s keen interest in crypto investment.”
Sumit further adds that BitOasis’ brand and leadership team will remain unchanged following the acquisition.
Ola Doudin, Co-Founder & CEO of BitOasis, said, “CoinDCX’s acquisition marks an exciting new chapter for BitOasis, one that propels us forward on a much stronger ground.”
She said, “We take pride in our recent regulatory milestones, being amongst the first companies to register and become a reporting entity to FIU, the reinstatement of our MVP Operational license under VARA, and securing a license from the Central Bank of Bahrain, reinforcing our regional presence.”
Ola said, “We are committed to delivering exceptional services, and this acquisition will enable further growth.” She also said that 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 enhanced user experience.”
About CoinDCX
CoinDCX, established in 2018, is India’s top exchange with over 15 million users, 500+ assets, and 840 million dollars in trading volume in 2024.
CoinDCX simplifies investing with its intuitive interface, ensuring transparency through stringent KYC norms, making it the first virtual assets exchange in India.
About BitOasis
BitOasis, established in 2016, enables individuals in the GCC and MENA region to buy, sell, and hold over 60 tokens in fiat currencies under a minimum viable product license.
Since its inception, the company has processed over 6 billion dollars in trading volume and raised over 40 million dollars in funding from top regional and global investors.
