CoinDCX announces the acquisition of BitOasis, the Middle East and North Africa’s (MENA) trading platform. In August 2023, CoinDCX presented a strategic investment to BitOasis. With the company’s newly obtained license in the Kingdom of Bahrain and the recent relaunch of its platform in Dubai, this acquisition will significantly enhance BitOasis’ capability to solidify and broaden its footprint across the MENA region as a dominant force in the virtual assets ecosystem, licenses and regulation in multiple markets.
The two market leaders joining forces marks a first-of-its-kind, transformative deal in the MENA region.
BitOasis was founded in 2016 by Ola Doudin, Tarek Kaylani, and Daniel Robenek. It is a platform for buying, selling, and holding over 60 tokens with fiat currencies such as AED, SAR, and USD. The company has processed over $6 billion in trading volume and raised more than $40 million in funding.
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. Since the start of BitOasis, trust and regulatory compliance have been key pillars in our mission to drive crypto adoption across MENA. We take pride in our recent regulatory milestones, being amongst the first companies to register and become a reporting entity to FIU and securing a license from the Central Bank of Bahrain.”
In addition, Ola stated: “We are committed to delivering exceptional services, and this acquisition will enable further growth. 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 overall enhanced user experience.”
CoinDCX, established in 2018, is the most preferred exchange in India. It offers access to 500+ crypto assets and has facilitated average quarterly trading volumes exceeding USD 840 Million in 2024, driving crypto adoption across India.
Sumit Gupta, Co-Founder of CoinDCX, said, Our expansion strategy begins with the MENA region, capitalizing on its mature market and the population’s keen interest in crypto investment.”
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