CoinDCX Acquires UAE's BitOasis for MENA Expansion
India's largest cryptocurrency exchange, CoinDCX, has acquired BitOasis, a leading digital asset platform in the Middle East and North Africa (MENA) region. The financial terms of the deal were not disclosed, but BitOasis investors will receive equity in CoinDCX. BitOasis, founded in 2016, has processed over $6 billion in trading volume and raised over $40 million in funding. The acquisition will allow CoinDCX to expand its footprint internationally, offering a broader product portfolio, enhanced crypto services, increased liquidity, and improved trading options.
The move comes amid regulatory challenges for cryptocurrency firms in India, where the central bank has pressured lenders to avoid dealing with such companies. Despite this, CoinDCX aims to become a global trading platform for cryptocurrencies. BitOasis will continue to operate under its existing licenses, and its brand and leadership team will remain unchanged. This acquisition is expected to bolster CoinDCX's presence in the MENA region and provide users with a more robust and secure trading experience.
