CoinDCX Acquires BitOasis to Expand Crypto Reach in MENA Region
July 4, 2024Indian cryptocurrency exchange CoinDCX has fully acquired UAE-based trading platform BitOasis.
The acquisition follows CoinDCX's initial investment in BitOasis last year.
BitOasis holds a license in Bahrain and operates in Dubai, making it a strategic asset for regional expansion.
CoinDCX aims to enhance user experience, offer a broader product portfolio, increase liquidity, and improve trading options.
CoinDCX has a compliance-first approach, evidenced by its registration with the Financial Intelligence Unit in India.
Founded in 2016, BitOasis has processed over $6 billion in trading volume and raised $40 million in funding.
The acquisition is expected to strengthen BitOasis' position in the MENA region and cater to growing crypto investment interest, particularly in the UAE.
Summary based on 7 sources
Get a daily email with more Startups stories
Sources
TechCrunch • Jul 3, 2024
CoinDCX acquires BitOasis in international expansion push | TechCrunchCoinDesk • Jul 3, 2024
Indian Crypto Exchange CoinDCX Acquires BitOasisCointelegraph • Jul 3, 2024
CoinDCX crypto exchange acquires BitOasis, expands into MENA regionBusiness Standard • Jul 3, 2024
India-based crypto exchange CoinDCX acquires full stake in Dubai's BitOasis