BitOasis Maintains Brand and Leadership Following CoinDCX Acquisition to Gain Foothold in MENA Region

MonetaDCXThe Indian cryptocurrency exchange has strengthened its position in the Middle East and North Africa (MENA) fintech market by taking over BitOasisa virtual asset trading platform that recently obtained a new license in the Kingdom of Bahrain and reopened its platform in Dubai.

The acquisition will enable BitOasis to strengthen and expand its presence across the region in the virtual asset ecosystem, licensed and regulated across multiple markets. Having registered with the UAE Financial Intelligence Unit in 2021, BitOasis maintains strong relationships with regulators across the region. Last year, CoinDCX invested in BitOasis as it looked to strengthen its presence in MENA. However, by now investing in the company, the company will have an even stronger presence in the region.

The BitOasis brand and management team will remain unchanged following the acquisition, fostering seamless synergy and collaboration between both organizations.

Peak GuptaCoinDCX co-founder said, “Building on six years of success and supporting over 15 million Indians in their crypto journey, CoinDCX aims to become the go-to crypto trading platform for the world. For us, investor protection has been paramount and we have distinguished ourselves in India with our unwavering compliance.

“We are committed to the same standards wherever we operate. This principle will continue to guide our actions as we navigate new markets and opportunities. Our expansion strategy begins with the MENA region, taking advantage of its mature market and the strong interest of the population in cryptocurrency investments.”

Why a perfect fit?

Ola DudinCo-Founder and CEO of BitOasis, said: “The acquisition of CoinDCX marks an exciting new chapter for BitOasis, propelling us forward on much stronger ground. Since the inception of BitOasis, trust and regulatory compliance have been key pillars of our mission to drive cryptocurrency adoption in the MENA region.

“This is a common pillar we share with CoinDCX, along with our unwavering commitment to customer centricity, which has been equally important to our sustainable success. We are proud of our recent regulatory milestones, being among the first firms to register and become an FIU reporting entity, having our MVP Operational license reinstated under VARA, and securing a license from the Central Bank of Bahrain, strengthening our regional presence.”

Supporting growth

Founded in 2018, CoinDCX offers access to over 500 crypto assets and facilitates average quarterly trading volumes exceeding USD 840 million in spot market in 2024 for over 15 million users. With a user-friendly interface, CoinDCX has simplified the trading experience, making it accessible to users of all skill levels. It is the first virtual asset exchange in India registered with FIU IND, maintaining transparency through stringent KYC norms.

Founded in 2016 by Ola Doudin, Tarek Kaylani AND Daniel RobenekBitOasis has grown as a retail, institutional and high net worth platform across the GCC and broader MENA region. Users can buy, sell and hold over 60 tokens using fiat currencies such as AED, SAR and USD. Since its inception, the company has processed over $6 billion in trading volume. It has also raised over $40 million in funding from regional and global investors.

Doudin further stated, “We are committed to delivering exceptional services and this acquisition will enable further growth. Users can expect a broader product portfolio, improved crypto service offerings, broader access to an expanded range of tokens, increased liquidity, improved trading options and an overall improved user experience.”