CoinDCX Expands into MENA with BitOasis Acquisition

CoinDCX, an Indian cryptocurrency exchange, has announced its acquisition of BitOasis, a virtual assets trading platform based in Dubai. This strategic move aims to significantly enhance CoinDCX's global reach, marking a pivotal expansion into the Middle East and North Africa (MENA) markets.

Less than a year ago, CoinDCX had made an initial investment in BitOasis, laying the groundwork for this acquisition. With quarterly trading volumes exceeding $840 million in spot transactions as of 2024, CoinDCX co-founder Sumit Gupta emphasized the strategic importance of the acquisition in advancing their MENA growth strategy.

"Last year, we strategically invested in BitOasis to bolster its regional presence," Gupta stated. "Now, with this acquisition, we're poised to establish an even more formidable foothold across the MENA region, catering to a diverse range of retail and institutional clients."

The acquisition underscores CoinDCX's commitment to expanding its footprint in key international markets, leveraging BitOasis' established platform and local expertise to cater to the burgeoning demand for cryptocurrency trading and investment opportunities across MENA.

Source: Bindu Rai / Zawya