Dubai-based virtual asset trading platform BitOasis announces a successful acquisition by India-based crypto exchange CoinDCX.
BitOasis previously received a strategic investment from CoinDCX in August 2023.
Coupled with the company’s recently acquired license in the Kingdom of Bahrain and the recent relaunch of its platform in Dubai, the acquisition will further empower BitOasis to strengthen and expand its presence across the MENA region.
The BitOasis brand and leadership team will remain unchanged following the acquisition, enhancing seamless synergy and collaboration between the two organizations.
Founded in 2016 by Ola Doudin, Tarek Kaylani and Daniel Robenek, BitOasis offers its customers to buy, sell and hold over 60 tokens with fiat currencies such as AED, SAR and USD.
Ola Doudin, Co-Founder and CEO of BitOasis said,
“The acquisition of CoinDCX marks an exciting new chapter for BitOasis, one that propels us forward into much stronger territory. Since BitOasis’ inception, trust and regulatory compliance have been a key pillar in our mission to drive crypto adoption across MENA. This is a common pillar we share with CoinDCX along with our unwavering commitment to customer centricity that has been equally critical to sustainable success.”
Founded in 2018, CoinDCX offers access to over 500 crypto assets.
Sumit Gupta, co-founder of CoinDCX, said:
“Last year, we strategically invested in BitOasis to strengthen its regional presence. Now, with this acquisition, we are poised to build an even stronger foothold across the MENA region, serving a wide range of retail and institutional customers.”