CoinDCX,India’slargest cryptoexchange,completes the acquisition ofBitOasis,strengthening its presence in the MENA region and enhancing its position in the regulated virtual assetsecosystem.
Points
- CoinDCXacquiresfullownershipofBitOasis.
- BitOasisholdsalicenseinBahrainandoperatesinDubai.
- CoinDCXaimstoexpanditsinfluenceintheMENAregion.
- TheacquisitionmarksamilestoneintheMENAregulatedvirtualassetsecosystem.
- BitOasisprocessesover$6billionintradingvolumeandhassecured$40millioninfunding.
CoinDCX,India’slargest cryptocurrencyexchange,has completed the acquisition ofBitOasis,marking a significant milestone in its expansion into the Middle East and North Africa（MENA）region.This strategic move followsCoinDCX’sinitial investment in BitOasis in August2023,where it acquired an85%ownershipstake.CoinDCX has now secured fullownership,empowering it to consolidate its position in the MENAregion’sregulated virtual assetsecosystem.
BitOasis’RegulatoryAchievements
BitOasis recently obtained a Virtual Assets Regulatory Authority（VARA）license from the Central Bank of Bahrain and has reopened its platform inDubai.This regulatory approval allows BitOasis to operate as abroker-dealerunder strictconditions,ensuring compliance with legal standards and boosting investorconfidence.
CoinDCX’sExpansionStrategy
With thisacquisition,CoinDCX aims to leverageBitOasis’established presence and regulatory compliance in the MENA region to enhance its globalfootprint.CoinDCX’suser base exceeds15million,and the platform facilitates over500crypto assets with quarterly trading volumes surpassing$840million in2024.This acquisition reflectsCoinDCX’sambition to become a global leader in crypto trading while maintaining high standards of investor protection and regulatorycompliance.
SumitGupta,Co-FounderofCoinDCX,commented:
“Withsix years of success and empowering millions inIndia’scryptojourney,CoinDCX aims to become the global leader in cryptotrading.Upholding investor protection remains ourpriority,evident in our stringent compliancestandards.As we expand into new markets likeMENA,we are committed to maintaining these highstandards.”
BitOasis’MarketPosition
Founded in2016by OlaDoudin,TarekKaylani,and DanielRobenek,BitOasis has becomeMENA’sgo-toplatform forretail,institutional,andhigh-net-worthindividuals to trade over60tokens with fiat currencies likeAED,SAR,andUSD.Since itsinception,BitOasis has processed over$6billion in trading volume and secured over$40million in funding from leading regional and globalinvestors.
OlaDoudin,Co-Founder&CEO ofBitOasis,affirmed:
“CoinDCX’sacquisition marks a significant milestone forBitOasis,strengthening our foundation for futuregrowth.Trust and regulatory compliance have been central to our mission of driving crypto adoption inMENA.This acquisition aligns with our commitment tocustomer-centricityand regulatorytransparency.”
Conclusion
The acquisition of BitOasis by CoinDCX represents a transformative milestone for bothcompanies,enhancing their capabilities and market presence in the MENAregion.WithBitOasis’regulatory approvals and strategic location inDubai,the combined entity iswell-positionedto leverage new opportunities and drive greater innovation and adoption ofcryptocurrency.This move underscores the dynamic nature of the cryptocurrency market and the strategic steps major players are taking to gain a foothold in emergingmarkets.
解説
- StrategicAcquisition:CoinDCX’sacquisitionofBitOasisisastrategicmovetoexpanditsinfluenceintheMENAregion,leveragingregulatoryapprovalsandestablishedmarketpresence.
- RegulatoryCompliance:BitOasis’regulatoryachievementsinBahrainandDubaiensurecompliancewithstrictlegalstandards,enhancinginvestorconfidence.
- MarketPresence:Theacquisitionstrengthensthemarketpresenceofbothcompanies,positioningthemforfuturegrowthandinnovationinthecryptocurrencyspace.
- GlobalExpansion:CoinDCX’sexpansionintotheMENAregionhighlightstheimportanceofemergingmarketsintheglobalcryptocurrencylandscapeandthestrategicstepstakenbymajorplayerstoestablishastrongfoothold.