India’s CoinDCX enters MENA with BitOasis acquisition

CoinDCX, a leading exchange in India, has announced the acquisition of BitOasis, a leading platform in the Middle East and North Africa (MENA). This strategic merger marks a significant step forward for regional crypto trading, combining CoinDCX’s solid Indian user base of over 15 million with BitOasis’ extensive reach in the GCC.

Founded in 2016, BitOasis has quickly become a popular platform for cryptocurrency enthusiasts in the MENA region, enabling transactions in multiple fiat currencies and offering a diverse portfolio of over 60 tokens.

With a strong focus on regulatory compliance and customer trust, BitOasis has secured key licenses from authorities in Bahrain and the United Arab Emirates, setting high standards of operational integrity in the region.

Sumit Gupta, Co-Founder of CoinDCX, emphasized the importance of investor protection and regulatory compliance in the operations of both companies. He emphasized CoinDCX’s commitment to transparency and compliance, principles that will guide its expansion into the mature MENA market.

Gupta expressed optimism about leveraging BitOasis’ established regulatory relationships and operating licenses to increase cryptocurrency accessibility and liquidity across the region.

Ola Doudin, co-founder and CEO of BitOasis, echoed Gupta’s sentiments, noting the alignment of values ​​between the two platforms. She highlighted BitOasis’ milestones in regulatory compliance and customer-centric service, pointing to their role as pioneers in registering with the UAE Financial Intelligence Unit and obtaining licenses from key regulatory bodies.

The acquisition promises exciting changes for cryptocurrency users in the MENA region, including an expanded range of services, increased liquidity, and an improved user experience. Both CoinDCX and BitOasis remain committed to maintaining their brands and management teams, ensuring a seamless integration that fosters innovation and growth in the regional cryptocurrency market.

As CoinDCX and BitOasis embark on this new chapter together, they envision not only expanding their market reach but also embarking on a transformational journey to make cryptocurrency investing more accessible and safe for millions of people across the MENA region. With their combined expertise and resources, the future of cryptocurrency trading in the region looks brighter than ever before.

Also Read: CoinDCX Unveils Web3 Mode for Direct Crypto Purchases in INR