- CoinDCX acquires BitOasis, entering MENA market, enhancing global expansion and strengthening regulatory compliance.
- BitOasis retains brand and leadership post-acquisition, ensuring no disruption in services and benefiting from CoinDCX resources.
- CoinDCX plans to leverage this MENA presence built by BitOasis to list more tokens, increase liquidity, and improve trading options.
CoinDCX, the largest cryptocurrency exchange in Asia, today announced the acquisition of BitO Oasis, a leading virtual assets trading platform, thus extending its offering across the Middle East and North Africa region.
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This marked CoinDCX’s entry into the MENA market and showed indications of international expansion. Nothing shall change at BitOasis regarding its brand identity and leadership; everything will remain operational without disrupting services in place for retail, institutional, and high-net-worth individual clients.
The acquisition of BitOasis will be CoinDCX’s first foray into its global expansion strategy. With a solid user base built in India of over 15 million users, CoinDCX looks to use the established presence of BitOasis in the MENA region to amplify further its reach on its quest to become a global crypto powerhouse.
The MENA market presents growth opportunities, status-quite a mature regulatory environment, and increasing interest in cryptocurrency investments. On the regulatory side, BitOasis has obtained an broker-dealer license from the Central Bank of Bahrain.
This new license added to its operational MVP license from Dubai’s VARA further enhances the regulatory standing of BitOasis. BitOasis’s commitment to regulatory compliance aligns with CoinDCX’s principles, making the acquisition a strategic fit for both companies.
Enhanced User Experience
Users of both platforms can expect enhanced services following the acquisition. CoinDCX aims to add more tokens, enhance liquidity, and improve trading options for a better general trading experience.
The users at BitOasis will benefit from the resources and expertise carried along by CoinDCX. In turn, its users will gain access to the robust platform and regional know-how coming from BitOasis.
Leadership and Vision
Founded in 2016 by Ola Doudin, BitOasis has handled over $6 billion in trading volume and has risen to more than $40 million in its fundraising.
Reacting to the news, the Co-Founder and Chief Executive Officer of BitOasis, Ola Doudin, said that with this acquisition, the mission of BitOasis—crypto adoption throughout the MENA region—would be accelerated further.
CoinDCX Co-Founder Sumit Gupta mentioned that their shared ideals of regulatory compliance and customer-centricity made this acquisition happen. This deal will also further CoinDCX’s expansion into foreign markets.
A possibility of the tie-up with BitOasis would be an added advantage to CoinDCX’s existence in furthering its presence in MENA and staying on course in this quest to democratize easy access to virtual digital assets. This strategic move underlines the firm’s ambition to become one of the global crypto trading platforms.
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